There are a number of international banks that have a presence in the Kingdom working in partnership with local banks. The regulations for banking are governed by the Saudi Arabian Monetary Agency (SAMA), the central bank of the Kingdom of Saudi Arabia, which was established in 1952.

Functions of SAMA are

Issues national currency, the Saudi Riyal.

Acts as a banker to the government. 

Supervises commercial banks.

Manages Kingdom’s foreign exchange reserves.

Conducts monetary policy for promoting price and exchange rate stability.

Promotes the growth and ensures the soundness of the financial system.

A selection of the banks with international partnerships are:-

Saudi British Bank                  SABB is an Associated company of the HSBC Group, one of the world’s largest banking and financial services organisations, with over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. www.sabb.com

Saudi Hollandi Bank                Saudi Hollandi Bank is a Saudi joint stock company, established by Royal Decree in 1976, in 2004 capital was increased to SAR 1,260 million. The Bank's global affiliation with ABN AMRO gives immediate access to international financial markets and instruments as well as to a global branch-banking network.  www.saudihollandibank.com

Banque Al Saudi al Fransi      A Saudi-French joint venture affiliated with Credit Agricole Indosuez of France offers a full range of retail, corporate, investment services and solutions.  www.alfransi.com