The Saudi Arabian Monetary Agency, 1952-2016 Central Bank of Oil /

• Main Authors: Banafe, Ahmed (Author), Macleod, Rory (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Cham : Springer International Publishing : Imprint: Palgrave Macmillan, 2017.
• Series: Financial Institutions, Reforms, and Policies in Muslim Countries
• Subjects: Finance.; Finance, Public.; Finance > History.; Macroeconomics.; Public Finance.; Financial History.; Macroeconomics/Monetary Economics//Financial Economics.; Middle Eastern and North African Economics.

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. As a "swing producer", Saudi Arabia has traditionally stepped in to make up for oil supply shortfal...

Table of Contents:

• 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.