SAMA Foreign Holdings

Summary

The Saudi Arabian Monetary Authority (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.

Background

In December 2016, the Saudi Arabian Monetary Authority became the new name from the Saudi Arabian Monetary Agency.

As of 2013, Saudi Arabia is the largest crude oil exporter. It is the only producer with significant spare capacity. A massive allocation of the oil receipts have been invested in international financial markets. A large and persistent fall in oil prices could cause a reversal of these outflows. According to a February 2013 EIA report, Saudi Arabia has almost one-fifth of the world’s proven oil reserves and is the biggest producer and exporter of total petroleum liquids in the world. In addition, Saudi Arabia has the world’s fifth largest natural gas reserves.

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.

Saudi Arabia – Total Reserves including Gold

Historical Assets Under Management – SAMA

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]