Saudis rule out liquidity problem ( 31 Views )

1. A Saudi official says the oil-rich kingdom is facing no liquidity problem and is ruling out negative effects on its economy from the global credit crisis.The official news agency SPA quoted Mohammed al-Jasser, deputy governor of the Saudi Monitory Agency, the country's central bank, as saying the bank is capable of dealing with any liquidity need. In late Tuesday night's statement, al-Jasser says bank deposits are safe and economic growth healthy. Al-Jasser also has assured borrowers that banks will continue usual lending operations. Like elsewhere in the Middle East, shares in Saudi Arabia's exchange plunged 7 percent Tuesday, a day after hitting a four-year low with a 9.81 percent drop.
   
   (levent, Turkey)

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