As part of its role in activating monetary policy tools and preserving financial stability, the Saudi Arabian Monetary Authority (SAMA) has decided to inject SAR 50 billion into the banking sector to enhance banking liquidity and enable banks to continue providing credit facilities for the private sector. Through this support measure, SAMA aims to help banks revise or restructure the private sector loans with no additional charges, support plans to maintain employment levels in the private sector, and provide certain e-banking services for free.

Moreover, SAMA indicates that the banking sector is still registering good performance indicators, enabling it to face current challenges. At the end of Q1 2020, the total assets of the banking sector jumped 14% to about SAR 2.7 trillion. Credit facilities granted to the private sector also grew by 12% during the same period. The average capital adequacy ratio (CAR) stood at 18.6%, liquidity coverage ratio (LCR) 201%, and net stable funding ratio (NSFR) 126%. These positive indicators have supported commercial banks in continuing their pivotal role in the economic development in the Kingdom of Saudi Arabia.

Further, SAMA will continue to ensure that the banking sector remains well functioning in line with Saudi Vision 2030 to contribute to promoting prosperity and development led by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and HRH the Crown Prince Muhammed bin Salman.