A Statement by His Excellency the Governor of
Saudi Arabian Monetary Agency,
Dr. Fahad bin Abdullah Almubarak,
On the occasion of the National Day of
the Kingdom of Saudi Arabia
The 7th of Dhual-Qa�dah 1433H marks the National Day of the Kingdom of Saudi Arabia. It is a historic day on which King Abdul Aziz Bin Abdul Rahman Al-Saud - may Allah bless his soul- unified this homeland, which is dear to all of us. By the grace of Allah, we started to enjoy prosperity, welfare, well-being, security and safety.
The celebration of this day every year reminds us of the evolution witnessed by our country at all levels since its unification by King Abdul Aziz � may Allah bless his soul. Education, health, water, and electricity services, as well as, roads have spread over all parts of the Kingdom of Saudi Arabia. One of the most important achievements in the past decades is the magnificent investment made in human resources, particularly in the education sector. At the end of 2011, the number of general education male and female students, in the Kingdom, amounted to 6.4 million, receiving education at 26.6 thousand schools, and taught by 453.2 thousand female and male teachers. During the same period, the number of university male and female students went up to 925.0 thousand, apart from more than 125 thousand female and male students on scholarships abroad under the program of the Custodian of the Two Holy Mosques King Abdullah Bin Abdul Aziz.
In the economic field, the Kingdom plays a great and effective role in the global economy. It is a member of G20 since its establishment. This group includes the largest and most important economies in the world, and it produces about 85 percent of the global GDP, and represents two-thirds of the world population. The Kingdom is also an effective member of the IMF, the World Bank, the Bank for International Settlements, the Basel Committee on Banking Supervision, and the Financial Stability Board. Moreover, the Kingdom is one of the largest contributors to a number of regional institutions, such as the Islamic Development Bank, the Arab Monetary Fund, the Arab Fund for Economic and Social Development, the Arab Bank for Economic Development in Africa, the Arab Authority for Agricultural Investment and Development, the Arab Investment and Export Credit Guarantee Corporation, and the OPEC Fund.
Banking services have witnessed considerable development and expansion. At the end of the second quarter of 2012, the number of domestic banks operating in the Kingdom stood at 12 with 1661 operating branches and that of the branches of foreign banks 11. Total credit provided by domestic banks to the private sector amounted to Rls 933.4 billion. Money supply amounted to more than Rls 1.3 trillion at the end of the same period and commercial banks� assets went beyond Rls 1.6 trillion, maintaining their marked solvency. The number of automated teller machines (ATMs) in the Kingdom was 12.2 thousand during the second quarter of 2012, and that of ATM cards issued to citizens and residents exceeded 15.0 million. The number of points of sale (POS) terminals exceeded 87.2 thousand.
Banking services have developed tremendously in line with recent international standards, particularly in the area of financial payment and settlement systems such as the Automated Clearing House (ACH) System, Saudi Payment Network (SPAN) and the Saudi Arabian Riyal Interbank Express System (SARIE). Many banking services are being carried out via the internet, Telephone Banking, and other electronic systems such as �SADAD� System for paying public utilities bills and fees, contributing to smooth and easy performance of financial transactions by citizens and residents at a very reasonable cost.
The great achievements made by our country make it incumbent upon us to maintain and enhance them and exert further efforts to protect them. On this happy occasion, I am pleased to extend my highest congratulations to His majesty the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz, His loyal Crown Prince, the honorable Royal Family, and the Saudi faithful people, praying to Allah to always return this occasion with our country enjoying security, stability and prosperity.
SK1219-12