Financial Institutions, Reforms, and Policies in Muslim Countries

The Saudi Arabian Monetary Agency, 1952-2016

Central Bank of Oil

Authors: Banafe, Ahmed, Macleod, Rory

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  • Offers the authors’ insider perspectives on one of the most successful banks in any developing country
  • Proposes a framework for understanding the Saudi Arabian economy
  • Provides insight on SAMA’s past and current issues as it looks toward the future  
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eBook 91,62 €
price for Germany (gross)
  • ISBN 978-3-319-55218-7
  • Digitally watermarked, DRM-free
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Hardcover 117,69 €
price for Germany (gross)
  • ISBN 978-3-319-55217-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover 117,69 €
price for Germany (gross)
  • ISBN 978-3-319-85599-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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 shortfalls in other OPEC countries, or to scale back their own production when overabundance might lead to a price crash. Since 2014, Saudi Arabia has changed its policy in response to the rise of American shale oil, in search of a long-term strategy that will, once again, help balance supply and demand at a steady price. In its informal dual role of central bank and sovereign wealth fund, SAMA must navigate the paradoxes faced by monoline oil producing countries: the need for diversification vs. dependence on oil-based revenue; the loss of foreign exchange reserves that follows oil-financed government spending; the unreliability of revenue from oil; the challenges of using a Western model for supervising Shariah-compliant banks; and the need to have a balancing mix of oil and financial assets. As SAMA (now the Saudi Arabian Monetary Authority) reassesses its role in 2017, this history and guide to current policy issues will prove invaluable for policymakers in oil producing economies looking to apply lessons from the past as they plan for the future. 

About the authors

Ahmed Banafe is a Senior Investment Advisor at SAMA, with a career spanning forty-four years. He is the author of Saudi Arabian Financial Markets (1993) and several Bank for International Settlements papers.

Rory Macleod is Managing Director of Objective Analysis Ltd. He first served as an advisor in SAMA’s investment department from 1985 to 1989 and has since worked with SAMA in various roles.

Table of contents (14 chapters)

Table of contents (14 chapters)

Buy this book

eBook 91,62 €
price for Germany (gross)
  • ISBN 978-3-319-55218-7
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 117,69 €
price for Germany (gross)
  • ISBN 978-3-319-55217-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover 117,69 €
price for Germany (gross)
  • ISBN 978-3-319-85599-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Saudi Arabian Monetary Agency, 1952-2016
Book Subtitle
Central Bank of Oil
Authors
Series Title
Financial Institutions, Reforms, and Policies in Muslim Countries
Copyright
2017
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-55218-7
DOI
10.1007/978-3-319-55218-7
Hardcover ISBN
978-3-319-55217-0
Softcover ISBN
978-3-319-85599-8
Edition Number
1
Number of Pages
XXI, 330
Number of Illustrations
81 b/w illustrations
Topics