The Saudi Arabian Monetary Agency has been following the developments about the United Kingdom's referendum to exit from the European Union, known as Brexit, and assessing potential implications for financial markets. In this context, SAMA has earlier reviewed its investment policy pertaining to assets in the Euro and Sterling Pound in light of evolving economic and political developments and made adjustments to the exposure at the time. In our view, it is too early to estimate the full impact of Brexit on the UK and the European economies as well as financial markets.
Furthermore, we believe the impact of Brexit on the Saudi banking sector to be limited due to their limited exposure to these currencies.
