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Financial Regulation and Liberation - Saudi Arabia's Path Towards True Global Partnership (Paperback, 1st ed. 2021)
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Financial Regulation and Liberation - Saudi Arabia's Path Towards True Global Partnership (Paperback, 1st ed. 2021)
Series: SpringerBriefs in Economics
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The book examines in depth, the centrality of the Saudi fixed
currency regime to the US dollar, SAMA's monetary tools, macro
prudential policies and its supervision of the Saudi commercial
banking sector and new sectors such as insurance, the emerging Fin
Tech industry as well as a closer examination of SAMA's investment
policies as custodian of the local currency. Saudi Arabia has long
been associated with its central role in the global energy market,
with its decisions on production volumes affecting the global
financial markets. However, the Kingdom has also emerged as a
significant global financial player due to its large holdings of
international currency, its dominance of the regional Gulf and Arab
world capital markets, and the aspirations of its Sovereign Wealth
Fund, the Public Investment Fund. The G20 Presidency in 2020 has
also placed Saudi Arabia on the global stage for the country to
showcase progress in many and opening up its financial market to
foreign investors. But the path to financial regulation and
liberation to unleash Saudi Arabia's potential has not come
overnight, but through incremental steps and learning by doing. The
results speak for themselves as this book examines: * The Saudi
Capital Market and the evolution of its main Tadawul and parallel
NOMU stock markets following the inclusion of Tadawul in the FTSE
Russell, MSCI and S&P EM Indexes * The centrality of the Saudi
fixed peg exchange regime as well as a closer examination of SAMA's
investment policies as custodian of the local currency * SAMA's
rebranding in 2020 as a Central Bank, its monetary and macro
prudential policies and the re entry of foreign banks to the Saudi
market, reversing previous Saudization of foreign bank branches in
Saudi Arabia. The Author offers an analysis of the key challenges
facing Saudi Arabia in an age of financial globalization, FinTech
and digitization. The challenges faced by the Saudi regulators in
the COVID 19 era are examined, along with the country's financial
sector objectives as part of the Vision 2030 program, SME financing
now a central plank in the country's Vision 2030 program, the role
of FDI in economic growth, the reasons behind Saudi Arabia
languishing behind other countries in attracting FDI given the size
of its economy and rising domestic and foreign debt levels. It has
been an incredible journey for a young country, and by all
indications, the journey for expanded global partnership continues
as Saudi Arabia also puts into practice its version of the circular
carbon economy, its commitment to climate change, and being at the
forefront of a new global digital economy.
General
Imprint: |
Springer Nature Switzerland AG
|
Country of origin: |
Switzerland |
Series: |
SpringerBriefs in Economics |
Release date: |
March 2021 |
First published: |
2021 |
Authors: |
Mohamed A. Ramady
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Dimensions: |
235 x 155mm (L x W) |
Format: |
Paperback
|
Pages: |
88 |
Edition: |
1st ed. 2021 |
ISBN-13: |
978-3-03-068266-8 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
3-03-068266-8 |
Barcode: |
9783030682668 |
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