No change in Saudi monetary policy, SAMA Governor says

Riyadh, September 24, SPA -- The Governor of the Saudi Arabian
Monetary Agency (SAMA) Hamad bin Saud Al-Sayyari said that there is
no change in monetary policy of the Kingdom of Saudi Arabia.

Addressing a press conference here today to shed light on SAMA's 44th
annual report submitted last Monday to the Custodian of the Two Holy
Mosques King Abdullah bin Abdulaziz Al Saud, Al-Sayyari said "There
are several key challenges facing the Saudi economy, including
diversifying economic structure, achieving the adequacy of the
economy and curbing the rate of inflation", describing the last one
as the greatest of all.

He expected growth to continue this year, pointing out that the
private sector and non-oil exports have grown with good rates.

SAMA Governor confirmed that there is no shortage of liquidity in the
Saudi banks, citing the growth of lending in the Kingdom.

He dashed out worries about reports that the global financial crises
would have negative impact on Saudi banks.

"SAMA runs its foreign investments in a very conservative manner",
Al-Sayyari stated.