Sunday, October 25, 2020
News Flash SAMA turn to blockchain to inject liquidity into banking sector

SAMA turn to blockchain to inject liquidity into banking sector

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%.

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