SAMA Foreign Holdings
|Saudi Arabia||US$ 737.6* Billion|
Transparency Rating: 4
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Firm Investment Style: N/A
Entity Structure: Fund in Central Bank
Population Est.: 29.2 million – 2012
Wealth Per Capita Est.: $25,260
The Saudi Arabian Monetary Agency (SAMA) is the central bank of the Kingdom of Saudi Arabia. The SAMA has a massive pool of foreign currency reserves.
Since June 1986, SAMA has a fixed exchange rate regime, with a dollar peg. Foreign exchange profits mainly from crude oil exports are deposited with the Saudi Arabian Monetary Agency.
Before the creation of the Saudi Arabian Monetary Agency, Saudi Hollandi Bank, part of the Netherlands Trading Society, from 1926 held the Kingdom of Saudi Arabia’s gold reserves and incoming oil revenue. It was the first operating bank in Saudi Arabia. Saudi Hollandi Bank transitioned its responsibilities as de facto central bank.
Under Saudi King Abdulaziz, the Saudi Arabian Monetary Agency was established in 1952.
|Strategies and Objectives
*Calculated – Total Reserve Assets – SAMA