The financial market in Saudi Arabia began with informal beginnings in the 1950s, and the situation continued until the government set up basic market regulations in the 1980s. Under the “Capital Market Law” issued by Royal Decree No. (M / 30) dated 2/6 / 1424H, the Capital Market Authority was established. It is a governmental body with financial and administrative independence and is directly linked to the Prime Minister.
The Ministry of Finance is one of the oldest ministries in the history of the Kingdom of Saudi Arabia. It was established in 1344 as the “Directorate of Public Finance for the Management of Financial Affairs” under the reign of King Abdul Aziz Al Saud in Makkah. With the expansion of its work was transferred to the “Public Finance Agency” in 1347 AH .. Then the work of the Agency has grown significantly and the royal order to turn the Agency into a Ministry of Finance.
The Saudi Arabian Monetary Authority (SAMA) was established under the reign of His Majesty King Abdulaziz in accordance with two royal decrees issued on 13/7/25 / H corresponding to 25/4 / 1952H. It was established on 30/4/1/1046 and established the establishment of the Saudi Arabian Monetary Agency. And open branches in cities and places where needed. And the second No. 30/4/1/1047 adopted the document of the Statute of the Saudi Arabian Monetary Authority.