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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

SAMA ‘did not issue warning on expat loans’, says Saudi official

Posted on 28 October 2016

Industry body said to deny Saudi banks were warned against lending to expats. Reports that Saudi Arabia’s central bank had issued a directive asking banks to stop offering loans to expats amid nationwide austerity cuts have been dismissed, according to local media.
An official from the kingdom’s banking awareness committee told Saudi Gazette that the Saudi Arabian Monetary Agency (SAMA) had “nothing to do” with individual banks’ lending decisions and issued no such circular……………………………………Full Article: Source


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