This book sheds new light on the critical importance of the Saudi Arabian Monetary Agency (SAMA), a remarkably successful central bank that is a model for developing oil exporters worldwide.
Ahmed Banafe is a Senior Investment Advisor at SAMA, with a career spanning forty-four years. He is the author of Saudi Arabian Financial Markets (1993) and several Bank for International Settlements papers.Rory Macleod is Managing Director of Objective Analysis Ltd. He first served as an advisor in SAMA’s investment department from 1985 to 1989 and has since worked with SAMA in various roles.
Innehållsförteckning
1. Background to Saudi Arabia’s Financial Challenges.- 2. Discovery of Oil and the Founding of the Saudi Arabian Monetary Agency 1902-52 .- 3. Financial Development Before the First Oil Crisis 1953-74.- 4. Petrodollar Recycling and Saudization of the Banking System 1975-82.- 5. Declining Foreign Exchange Reserves and Iraq’s Invasion of Kuwait 1983-93.- 6. Low Oil Prices, Rising Government Debt, and External Crises 1994-2004.- 7. Impact of the Global Financial Crisis and Its Aftermath 2005-16.- 8. The Future of Gulf Monetary Union.- 9. Foreign Exchange Reserves Management – SAMA’s Experience.- 10. Developing the Domestic Bond Markets.- 11. Currency Regime and Monetary Policy.- 12. SAMA and the International Monetary System.- 13. The Saudi Banking System.- 14. SAMA and the Future.