The evolution of the Saudi Arabian monetary system
Although Saudi Arabia has accumulated massive reserves of foreign currency, its financial system is still primitive in many respects. This has resulted in much of these reserves being re-invested in financial centres around the world. Many of the principles which govern the operation of the Saudi ba...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10797 |
| Summary: | Although Saudi Arabia has accumulated massive reserves of foreign currency, its financial system is still primitive in many respects. This has resulted in much of these reserves being re-invested in financial centres around the world. Many of the principles which govern the operation of the Saudi banking system have not changed in 25 years from the time when the country was economically underdeveloped. The author traces the development of the country's money and banking system since the introduction of a national currency in 1925.
JEL: E42, E44
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| ISSN: | 2037-3635 2037-3643 |