The Saudi Arabian Monetary Agency (SAMA), the Kingdom’s central bank, is widely viewed as one of the top insurance regulators in the Middle East and North Africa (MENA) region. According to an October 2012 report released by AM Best, an international ratings agency, SAMA is “well respected locally” and is “one of the more...
With the spectre of the global economic slowdown still looming over advanced economies, investors weary of waiting for the long anticipated financial rebound might do well to look to emerging markets for potentially attractive yields. Four years on from the credit crisis, advanced economies are still lagging behind global...
In early July 2012 Saudi Arabia’s cabinet approved a legislative package that is expected to completely overhaul the Kingdom’s mortgage market. The new mortgage framework, which has been in development for more than a decade, is expected to be put in place by the end of 2012, though it could potentially be pushed to early 2013....
Looking to safeguard the county’s security in a tumultuous region, Saudi Arabia’s spending on defence continually ranks among the highest components of the country’s annual budget. While military expenditures as a proportion of the entire budget has fallen in recent years, defence and security spending accounted for 30.8% of the...
As Islam’s holiest city, Makkah has an economy that enjoys extraordinarily high demand from the many millions of Muslim pilgrims who visit it each year. With pilgrim numbers expected to nearly double between 2008 and 2019, the real estate, infrastructure, hospitality and retail sectors are among those most likely to benefit. All...
Restricted by regulatory uncertainty and underdevelopment over the past two decades, the Saudi Arabian real estate market is poised for a breakout in the coming years as long-awaited mortgage law reforms and more than a million new units planned for construction look set to transform the domestic market.
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