November 24, 2019 / 7:01 AM / 16 days ago

Saudi central bank governor reiterates banking sector is very liquid

RIYADH (Reuters) - Saudi Arabia’s banking sector has a high level of liquidity, its central bank governor said on Sunday, as banks in the Gulf state offer leverage to Saudi investors for shares in Saudi Aramco’s approaching initial public offering.

“The Saudi banking sector enjoys very high level of liquidity compared to Basel requirements,” Ahmed al-Kholifey told a conference.

In September, the governor had said he did not expect Saudi Aramco’s planned listing to affect liquidity in the banking sector, as all indicators were healthy.

Reporting by Marwa Rashad, writing by Davide Barbuscia

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