Arab Banks Maintain Capital Adequacy at Minimum Levels

capital,arab,banks,adequacy,levels
Saudi Arabia

Arab Banks Maintain Capital Adequacy at Minimum Levels

Industry news, Real Estate, Financial Markets, Banking, Startups, Stock Exchange, Oil & gas, Technology, Professionals, Business news, Research

Governors of Arab central banks and monetary institutions announced that central banks in the region have maintained capital and liquidity adequacy above the minimum limits established in the Basel Agreement, noting that the total debt in the sector exceeded $756 billion.

For his part, the Governor of the Saudi Central Bank, Dr. Fahd Al-Mubarak, said that inflation levels in his country were still within reasonable levels, pointing to the strength of the Saudi economy in light of the current challenges.

Saudi Central Bank (SAMA)

Al-Mubarak said that estimates for the second quarter of 2022 point to a real GDP growth of 11.8 percent on an annual basis, adding that inflation levels in the Kingdom were still within acceptable rates, registering an annual increase of 3 percent in July 2022.

Regarding the labor sector, Al-Mubarak said that the general unemployment rate continued to decline to 6.0 percent in the first quarter of 2022, while the unemployment rate for Saudis also decreased, reaching 10.1 percent in the same period.

An important phase

Addressing the 46th session of the Board of Governors of Central Banks and Arab Monetary Institutions, Al-Mubarak said that the latest expectations of the International Monetary Fund (IMF) indicated a slowdown in the pace of global