The total assets of the Saudi Central Bank (SAMA) surpassed SR2 trillion (USD535 billion) in July, for the first time in five years.
According to the data announced in the monthly statistical bulletin issued by SAMA on Sunday, the assets of the Saudi Central Bank recorded a growth of SR156.7 billion, compared to July 2021.
Moreover, Saudi Arabia’s foreign reserve assets increased by 5.1 percent at the end of July, on an annual basis, reaching SR84.49 billion (USD22.53 billion).
On the other hand, the Saudi Central Bank’s investments in foreign securities, which represent about 57 percent of its total assets, declined to about SR1,124 billion, by the end of July.
Meanwhile, the deputy minister of Commerce and General Supervisor of the Saudi Center for Economic Affairs, Dr. Iman Al-Mutairi, revealed that the center, which was established in March 2020, has implemented 450,000 different services provided by the concerned authorities in 12 branches across the Kingdom.
Her remarks came during a visit to the center’s Riyadh branch, conducted by the Saudi minister of Commerce, Dr. Majid Al-Qasabi, accompanied by the minister of Justice, Dr. Walid Al-Samaani, and the Chairman of the Council of Experts in the Council of Ministers, Mohammad Al-Ajaji.
The visit took place on the sidelines of the third meeting of the Legal Committee of the National Competitiveness Center, with the participation of the Assistant Chairman of the Experts Authority in the Council of Ministers, Bader Al-Hadab.
Mutairi noted that the branches facilitated services to the business sector, which are provided by the ministries of Commerce, Investment, Human Resources and Social Development, Municipal and Rural Affairs and Housing, the Zakat, Tax and Customs Authority, the General Organization for Social Insurance, and the Saudi Chambers of Commerce.
The center was established by a decision of the Council of Ministers with the aim of making the Kingdom one of the leading countries in the world in the quality and efficiency of government services directed to the business sector. It is organizationally linked to the Council of Economic and Development Affairs.
