Middle East

Saudi Arabian Monetary Agency (SAMA), the central bank of the Kingdom of Saudi Arabia, was established in 1952. The main functions are: Issues national currency, the Saudi Riyal, Acts as a banker to the government, Supervises commercial banks, Manages Kingdom’s foreign exchange reserve, Conducts monetary policy for promoting price and exchange rate stability, Promotes the growth and ensures the soundness of the financial system.

Qatar Central Bank.

Central Bank of Palestine.

By executing the financial and economic reform program, the Central Bank of Yemen fulfilled its obligations in creating suitable monetary and credit environment for a sustainable development and growth of the economy.

The Central Bank plays a vital role in the national economy. Its main responsibility is to formulate and implement the banking, credit and monetary policy to ensure price stability, and to support the Dirham and its free convertibility; in addition to acting as "the bank of banks" and the banker and financial advisor to the Government.

The Central Bank of the Islamic Republic of Iran is responsible for Iranian monetary policy, issuing banknotes and coins, regulating and supporting Iran's principal systems for clearing and settling payments.

The Banque du Liban was established by the Code of Money and Credit promulgated on 1st August 1963, by Decree no. 13513. It started to operate effectively on 1st April, 1964.

The Central Bank of Kuwait (CBK) was founded on June 30, by law 32/1968 and started operations on April 1,1969, replacing the Kuwait Monetary Council.

Jordan set out preparations to establish the Central Bank of Jordan (CBJ) in the late 1950s. The Law of the CBJ was enacted in 1959. Thereafter, its operational procedures were commenced on the first day of October 1964.

The primary objectives of the CBI shall be to achieve and maintain domestic price stability and to foster and maintain a stable and completive market – based financial system subject to these objectives, the CBI shall also promote sustainable growth, employment and prosperity in Iraq.

Under the provisions of the Bank of Israel Law, The Banking Law, and the Currency Control Law, the Bank of Israel has a range of responsibilities. The main ones are: Regulating and Directing Monetary Policy, Economic Advice to the Government, Foreign Currency Market and Managing the Foreign Exchange Reserves, Monitoring and analyzing foreign exchange activity, Banking Supervision, Promoting Financial Stability, Currency Issue, Banker of the Government and of the Banks, Representing Israel in International Institutions