The Saudi Arabian Monetary Authority (SAMA) will be using blockchain technology to inject part of SAR50 billion (US$13.3 billion) into the banking sector to enhance liquidity and enable banks to better support and finance the private sector. The regulator noted that banking assets grew 14% year-on-year reaching SAR2.7 trillion (US$718.26 billion) at the end of March 2020 while credit facilities extended to the private sector increased by 12%. Over the same period, the average capital adequacy ratio stood at 18.6%, the liquidity coverage ratio reached 201% and the ratio of net stable financing stood at 126%.
News FlashSAMA turn to blockchain to inject liquidity into banking sector
SAMA turn to blockchain to inject liquidity into banking sector