Saudi banks raised their investments in treasury bonds by SAR3 billion month-on-month (MoM) to SAR386.7 billion ($103 billion) in January 2020, new data from the Saudi Arabian Monetary Authority (SAMA) showed.
SAMA’s foreign assets grew SAR1.01 billion MoM in January to around SAR 1.913 trillion.
On the other hand, data released by SAMA disclosed that the volume of bank liabilities from the private sector amounted to SAR1.5 trillion ($412 billion).
Financial liabilities for the purpose of investing in securities amounted to SAR58.3 billion, while bank credit operations for bills of the exchange stood at SAR12.9 billion. Loans, advances, and overdrafts amounted to SAR1.4 trillion until January.
Reserve assets increased to SAR1.8 trillion ($501 billion) in January, up by about SAR8.4 billion from last December.
SAMA also announced that it had signed an agreement with the National Information Center.
In particular, SAMA highlights that the agreement is aimed at developing a mechanism through which banks operating in the Kingdom of Saudi Arabia are notified of customer deaths, which would help to preserve the rights of the beneficiaries through a direct link with the technical systems of banks.
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