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[size=36]Four Arab countries issue data on dealings with troubled US banks[/size]
Economy| 01:04 - 03/17/2023
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Baghdad - Mawazine News
Saudi Arabia, Kuwait, Bahrain and Jordan confirmed that their banks were not affected by the collapse of the American "Silicon Valley" bank, which led to an unprecedented wave of losses in the banking sector in a number of countries.
And the governor of the Saudi Central Bank, Ayman Al-Sayyari, said that there are no dealings of Saudi banks with troubled American banks.
Al-Sayyari pointed out that the “Saudi Central Bank” was among the first to implement the “Basel 3 +” reforms related to capital adequacy globally.
He emphasized that the capital adequacy rate of Saudi banks is approximately 20%, indicating that the bank has recently implemented complementary tools to provide liquidity in the banking system, and that the liquidity coverage rate is approximately 180%.
Al-Sayyari said yesterday, Thursday, that 100 licenses have been granted to financial technology companies, indicating that the Central Bank has established a laboratory to study new technologies that may serve the Saudi economy.
Meanwhile, Farid Belhadj, World Bank Vice President for the Middle East and North Africa, ruled out the repercussions of the collapse of the American bank on Arab economies.
Belhaj said in press statements that the US authorities rushed to contain the crisis.
For its part, the Central Bank of Jordan affirmed that there are no negative repercussions on the banking sector in the Kingdom due to the financial conditions that Silicon Valley and the American "Signature" banks were exposed to.
The Central Bank of Kuwait said in a statement that its exposure to Silicon Valley Bank is minimal. Central Bank Governor Basil Al-Haroun affirmed the stability and solidity of the conditions of the banking system units in Kuwait.
The Central Bank of Bahrain also confirmed the stability of the banking sector in the country, and the lack of exposure of banks and companies licensed to trade encrypted and digital assets operating in them with US banks that have recently stumbled.
The Central Bank of Bahrain said that the banking sector in the Kingdom "still enjoys liquidity and capital adequacy rates that are higher than the required regulatory level." Ended 29 / H
Saudi Arabia, Kuwait, Bahrain and Jordan confirmed that their banks were not affected by the collapse of the American "Silicon Valley" bank, which led to an unprecedented wave of losses in the banking sector in a number of countries.
And the governor of the Saudi Central Bank, Ayman Al-Sayyari, said that there are no dealings of Saudi banks with troubled American banks.
Al-Sayyari pointed out that the “Saudi Central Bank” was among the first to implement the “Basel 3 +” reforms related to capital adequacy globally.
He emphasized that the capital adequacy rate of Saudi banks is approximately 20%, indicating that the bank has recently implemented complementary tools to provide liquidity in the banking system, and that the liquidity coverage rate is approximately 180%.
Al-Sayyari said yesterday, Thursday, that 100 licenses have been granted to financial technology companies, indicating that the Central Bank has established a laboratory to study new technologies that may serve the Saudi economy.
Meanwhile, Farid Belhadj, World Bank Vice President for the Middle East and North Africa, ruled out the repercussions of the collapse of the American bank on Arab economies.
Belhaj said in press statements that the US authorities rushed to contain the crisis.
For its part, the Central Bank of Jordan affirmed that there are no negative repercussions on the banking sector in the Kingdom due to the financial conditions that Silicon Valley and the American "Signature" banks were exposed to.
The Central Bank of Kuwait said in a statement that its exposure to Silicon Valley Bank is minimal. Central Bank Governor Basil Al-Haroun affirmed the stability and solidity of the conditions of the banking system units in Kuwait.
The Central Bank of Bahrain also confirmed the stability of the banking sector in the country, and the lack of exposure of banks and companies licensed to trade encrypted and digital assets operating in them with US banks that have recently stumbled.
The Central Bank of Bahrain said that the banking sector in the Kingdom "still enjoys liquidity and capital adequacy rates that are higher than the required regulatory level." Ended 29 / H
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