Governor of SAMA holds press conference on latest economic,

The Governor of SAMA noted that the Supreme Economic Council had
studied the situation within its monitor for the world financial
crisis and was reassured on the strength of the banking system, the
safety of local conditions and the continued local economic growth.
He reassured that not a single bank suffers any kind of
problem in terms of liquidity or credit problems.

I wish to point out that the problems in global real estate markets
began more than a year and a half and, since then, SAMA was studying
the situation to cover any exposure of any bank that might suffer
from the phenomenon, he added.
Asked to comment on the situation of the Kuwait-based Gulf
Bank and its impact on Saudi banks, he said the local situation is
excellent and we always watch and follow the conditions of local
banks in detail.
On consumer loans, he said they grew by one per cent last year as a
result of the actions of control instructed by SAMA to avoid problems
between banks and borrowers.
On SAMA's monetary policy, Al-Sayyari said the institution
continuously monitors liquidity and currently it monitors it on daily
basis so that an appropriate measure could be taken if deemed
necessary.