Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The worst cash squeeze at Saudi Arabian banks since the financial crisis is easing.The three-month Saudi Interbank Offered Rate declined 2.2 basis points, after retreating last week for the first time since July.The nation's interbank rate had risen to a seven-year high as the government withdrew deposits and sold more than $60 billion worth of local bonds since the start of 2015 to cope with falling crude prices and a ballooning budget deficit.The regulator announced last month an injection of about 20 billion riyals for banks via deposits from state-run companies and introduced seven-day and 28-day repurchase agreements, in addition to the existing overnight operation.
FOLLOW THIS ARTICLE