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Ministry of Finance

Ministry of Finance was established in 1925 to undertake the responsibility of the financial policy, organize and preserve the State properties and to be the general reference for all finances in all Kingdom’s regions. MOF’s vision is focused on enabling Saudi Arabia to be among the top 15 economies in the world by 2030 through a distinguished financial system that relies on values and principles of partnership, transparency, accomplishment and commitment. Moreover, MOF’s mission is outlined in setting effective financial policies, managing the financial resources in order to achieve stability, economic growth and financial sustainability, increasing the spending efficiency, promoting the partnerships with the private sector through effective governance and enabling the Kingdom’s influence on the financial community regionally and globally.

MOF’s key strategic objectives to accomplish its vision and mission are as follows: to develop sustainable financial policies, effectively allocate and manage the financial resources, improve quality of the financial accounts, enhance transparency along with the optimal utilization of State’s assets and innovative financing, promote the regional and international standing of Saudi Arabia, enable digital transformation of MOF, qualify the staff within a productive environment and enhance change and communication management.

Capital Market Authority (CMA)

The Capital Market in Saudi Arabia unofficially started in the early fifties, and continued to operate successfully, until the government set its basic regulations in the eighties. The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated 26/11/2003 The CMA’s functions are to regulate and develop the Saudi Arabian Capital Market by issuing required rules and regulations for implementing the provisions of Capital Market Law. The basic objectives are to create an appropriate investment environment, boost confidence, and reinforce transparency and disclosure standards in all listed companies, and to protect the investors and dealers from illegal acts in the market.

The Saudi Central Bank (SAMA)

In 1952, the Saudi Arabian Monetary Authority (SAMA) was established. During that period, SAMA was acting as the Saudi Government’s banker with primary functions. The Royal Decree was issued in 2020 approving the Saudi Central Bank Law, including the amendment of the name of the Saudi Arabian Monetary Authority to become the Saudi Central Bank, keeping the same acronym (SAMA). The Saudi Central Bank continues to be financially and administratively independent, as well as pursuing its duties such as handling the banking affairs of the government, minting and printing the national currency (the Saudi Riyal), strengthening the Saudi currency and stabilizing its external and internal value.  In addition to strengthening the currency’s cover, SAMA is entrusted to manage the Kingdom’s foreign exchange reserves and the stability of prices and exchange rate. As well as being a key to the development of the financial system in the Kingdom and its soundness, SAMA is overseeing commercial banks, exchange dealers, cooperative insurance companies and self-employment professions relating to the insurance activity, finance companies, credit information companies, payment systems and payment service providers.