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Saudi Banking System Unaffected by the Global Financial Meltdown

Source: www.export-egypt.com 9/19/2013, Location: Middle East

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SAMA Governor said the Saudi banking system achieved powerful and continuous growth during the last decade (2003-2013) while strongly eliminating the fallout of the global financial crisis. The total assets of non-government banks tripled from SR 509 billion to SR 1734 billion. Accounts payable from the private sector increased five times from SR 206 billion to SR 999 billion. Saudi Arabia maintained high credit rating with positive prospect. The last rating was AA from Fitch Ratings International.

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