An introductory overview of the Central Bank of Saudi Arabia
The Central Bank of Saudi Arabia, formerly known as the Saudi Arabian Monetary Agency
(the Central Bank of the Kingdom of Saudi Arabia)
was established in 1952 and is also known as SAMA
It is the central bank of Saudi Arabia and is the most serious and professional regulatory body in the banking sector in the Gulf region
And the best risk manager at the level of central banks in the world for the year 2018-2019, according to the Central Banks Committee.
The current governor of the bank is Ayman Al-Sayyari,
who was appointed as its governor
Historical overview of the Saudi Bank
When SAMA was established, the kingdom did not have any financial system of its own. Foreign currencies were used in commercial transactions
In addition to the silver Saudi currency. Therefore, the first tasks of SAMA, after its establishment, were to develop a banking system and issue a national paper currency. SAMA also developed the banking business and issued a system for banks and regulated their work.
In March 1961, it was converted into the Saudi riyal. In the seventies and eighties, SAMA focused on controlling inflation as the Saudi economy grew steadily
The Central Bank of Saudi Arabia announced the opening of applications for the cooperative training program in various departments of the bank for the third semester of the year (2023 AD) for university students, as follows:
– Engineering majors in all their branches
– Legal majors – English language majors – Other related majors – Financial and accounting majors – Administrative majors in all their branches – Technical majors in all their branches