Study On Financial System Of Contemporary Saudi Arabia

Since 1926, the first foreign financial institution-Saudi Hollandi Bank set up offices in Saudi Arabia since 1952 as the Saudi Monetary Agency Saudi central bank set up to run, and then in 2015 the Saudi financial market is fully open to foreign investors. Saudi financial system from scratch, as the international financial markets and surging domestic financial activities before and after the change of attitude, experienced a downturn after the development and liberalization, gradually worked out their own development characteristics, adhere to modern financial At the same time the system rules, also insisted on practicing the financial activities of Islamic law constraint. Saudi financial system has some representation in the Middle East.Saudi Arabia by the Saudi financial system is the core of the financial system (the traditional financial system) and Saudi special financial system (Islamic financial system), with the two complement each other, together, constitute both integrated into the international financial system, but also with Saudi Arabia Saudi special domestic financial environment contemporary financial system, but a dominant position in the domestic financial system traditional Saudi financial system, the Islamic financial system as an important supplement to traditional financial system, in the development of Saudi Arabia's financial system does not account for the obvious advantages. Then through politics, religion, natural resources and international environmental analysis conclude that these four factors are key variables that affect the development of the Saudi financial system, they are intertwined together to force, and ultimately influence and determine the Construction and Development of the Saudi financial system. Saudi financial system due to the important role of the engine oil, the integration of traditional finance and Islamic finance and leadership position in the Middle East financial system, but at the same time due to the inherent these Saudi. Saudi financial system is different from other countries where the financial advantages of the system, the dual structure, so that it lacks a dynamic and competitive financial market environment, thereby enabling the development of a limited financial role in the economic growth in the play, which is both inadequate Saudi financial system, but also the Saudi financial system in the future development challenges facing the road.