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Saudi Arabian Monetary Agency (????? ????? ?????? ???????)
Not since 1928 to find the first Saudi law concerning money. It is then in 1952 that was created Monetary Agency of Saudi Arabia during the reign of Abdelaziz Al Saud ben Abderrahmane. Since its inception, many royal decrees were issued to formalize decisions taken on this monetary agency, whether to strengthen the autonomy of the body or to appoint new governors or deputy governors.
Monetary Agency of Saudi Arabia has invested several missions. First, it is responsible for issuing the national currency (Saudi Riyal) and the stabilization of its internal and external value. Foreign exchange reserves of the kingdom are the sole responsibility of the organization. In addition, the Monetary Agency of Saudi Arabia plays a key role in the control and supervision of banks, insurance companies, finance companies, credit companies, etc. The monetary policy of the kingdom is managed by the Monetary Agency of Saudi Arabia: it is to ensure the stability of prices and exchange rates. Encourage the growth of the financial system is also crucial to strengthen it.
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