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UPDATE 1-Saudi King approves renaming Saudi Arabian Monetary Authority to Saudi Central Bank

Nov 24, 2020 - Reuters UK

(Adds detail from central bank statement)

CAIRO, Nov 24 (Reuters) - The Saudi Arabian Monetary Authority will be renamed to Saudi Central Bank under a new law approved by Saudi Arabia’s King Salman bin Abdulaziz al-Saud, the central bank said on its website.

The new law identifies the central bank’s objectives that include maintaining monetary stability, promoting financial sector stability and supporting economic growth, with direct reporting to the King of Saudi Arabia, a sep...