Saudi FM receives call from Iran’s Araghchi
Saudi Arabia’s Foreign Affairs Minister Prince Faisal bin Farhan received a call on Sunday from his Iran counterpart Abbas Araghchi to discuss the latest developments in the Middle East. Prince Faisal affirmed the Kingdom’s commitment to its role in maintaining security and stability. The foreign ministers discussed diplomatic efforts to deescalate tensions in the region. The Saudi […]
Saudi bank credit rises 7.3% as deposits grow to $835bn
Saudi Arabia’s banking sector continued to expand in June, with total bank credit rising 7.3 percent year on year to SR3.42 trillion ($912 billion) and overall bank deposits increasing 8.9 percent to SR3.13 trillion, official data showed. According to the latest data from the Saudi Central Bank, broad money supply climbed 8.4 percent year on year to SR3.38 trillion, pointing to continued […]
Saudi Arabia opens August ‘Sah’ sukuk with 4.7% annual return
Saudi Arabia has opened subscriptions for its August “Sah” savings sukuk, offering a fixed annual return of 4.70 percent, up from 4.60 percent in the previous month’s issuance. The subscription window opened at 10 a.m. Saudi time on Aug. 2 and will close at 3 p.m. on Aug. 4, according to the National Debt Management Center. The Shariah-compliant sukuk is denominated in Saudi riyals, carries a one-year maturity, […]