As part of its supervisory and regulatory mandate over the banking sector, and in order to allow for further transparency and reliability in the method of calculation of Saudi Arabian Interbank Offer Rate (SAIBOR), SAMA would like to announce that it has approved naming Thomson Reuters by the banking sector to be benchmark administrator and calculation agent for SAIBOR effective from 20 November 2016 Sunday (20 Safar 1438H).
A panel of banks will contribute initially to SAIBOR, which will be calculated and administered by Thomson Reuters based on documented methodology and procedures aligned to the International Organization of Securities Commission (IOSCO) Principles for Financial Benchmarks.
