The total assets of the Saudi Central Bank, also known as SAMA, in November rose by 3.25 percent as compared to the previous month to reach SR1.821 trillion ($485.64 trillion), data issued by the apex bank showed on Thursday.
The bank’s net foreign assets went up 2.89 percent in November to reach SR1.568 trillion.
The Kingdom’s economic diversification efforts are also paying off as its non-oil economy is expanding and tourism is playing a crucial role in this regard.
According to the latest data, the Kingdom recorded SR19 billion in revenue from inbound tourism in the third quarter of 2023.
Saudi Arabia witnessed 58 percent increase in tourism revenues in 9 months of 2023 amounting to SR102 billion.
Data showed the bank claims on the private sector rose by 0.97 percent in November to reach SR2.52 trillion whereas its claims on the government increased 1.84 percent to reach SR532.015 billion.
SAMA’s total deposit with the government rose 11.62 percent compared to Oct to reach SR457.4 billion.
The apex bank’s investment in foreign securities also recorded a 1.74 percent rise in November to reach SR1.019 trillion.