- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:42 05:58 12:23 15:50 18:43 19:58
Saudi Arabian Monetary Agency (Sama), the country's central bank, should reduce compulsory reserves of banks to less than 13 per cent in order to boost liquidity in the local market, Al Riyadh daily reported citing economic experts.
Sama should also cut the reverse repo interest rate in order to enable banks to supply more liquidity to the stock market at low cost, economic consultant Abdul Wahhab Abu Dahesh said according to the paper.
Meanwhile, Saudi banks have started announcing better results for the third quarter.
Saudi-based Arab National Bank reported a 3.3 per cent rise in third-quarter net profit to SR628 million (Dh615m) despite global stock markets turmoil.
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