Saudi Arabia : Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

July 19, 2013

Electronic Access:

Free Full Text (PDF file size is 587 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper focuses on Saudi Arabia’s Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision. The banking sector is fairly concentrated around a few banks. The seven largest banks have a combined share of assets of 85 percent. The three largest banks have a combined share of about 45 percent, and the next four each have market shares exceeding 5 percent. The dominant shareholders of the three largest banks are government entities, the fourth largest is linked to a family business group, and the next three have ties to major international banks. Saudi Arabia implements International Financial Reporting Standards for banks, and insurance companies, and is served by the major accounting firms.

Series:

Country Report No. 13/213

Subject:

English

Publication Date:

July 19, 2013

ISBN/ISSN:

9781484385982/1934-7685

Stock No:

1SAUEA2013002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

42

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