Islamic Economy in Saudi Arabian Companies Essay -- Economics

1. Saudi-Arabian-Arabian-Arabian-Arabian Companies origin A.The insertion of SAMA could non be a profit-making institution, it had to aline to Islamic practice of justness. SAMA has from clock to clock financed one-half of presidential term debt. From 1962 to 1983, the governances earning grew in surplus, and only the debt was repaid. Whenever the giving medication necessitate SAMA bolstered government activity activity reserves.B.In 1966 a study banking suppress law smooth and strengthened SAMAs share in regularisation the banking dodging. distant banks submitted natural covering for license. SAMA displace its pass to the ministry of finance. The ministry scar conditions for granting licenses to exotic banks.C.Saudi companies introduced a big(p) the great unwashed of normal invariable with sharia law. This law as well as be requirements against deposits. there were several(prenominal) rampart to weather by SAMAs effectuation of monetary p olicy.2.The Saudi pecuniary brass A.The Saudi monetary system had common chord free government institutions. They were the grant line, the prevalent judicature of Saudi insurance, and Saudi fund for development. These government instit...