Ahmed Al-Khulaifi, Governor of the Central Bank of Saudi Arabia, announced that there was a change in some members of the Central Bank, after the announcement of changing the name of the Saudi Arabian Monetary Agency to the Central Bank of Saudi Arabia.
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According to Arabiya Net, he added that there will be no interference from any party in the work of the Central Bank.
The Saudi Cabinet, in its session yesterday chaired by the Custodian of the Two Holy Mosques, King Salman, approved the Saudi Central Bank system.
and the name of the Central Bank of Saudi Arabia will replace the name of the Saudi Arabian Monetary Agency.
The system included an amendment to the name of the Saudi Arabian Monetary Agency to become the Central Bank of Saudi Arabia and to be directly related to the King, with the Central Bank continuing to enjoy financial and administrative independence, in line with the global practices of central banks .
The system also included emphasizing that the central bank is responsible for setting and managing monetary policy and choosing its tools and procedures, in addition to clarifying the bank’s relationship with the government and the relevant international external bodies, and setting The system is a framework for the governance of the bank's business and decisions.
According to the system, the Central Bank of Saudi Arabia will retain the abbreviation SAMA for its historical importance and its position locally and internationally, as well as banknotes and coins of all categories bearing the name of the Monetary Agency Saudi Arabian; You will continue to retain statutory deliberation and executive power.
