IDEAS home Printed from https://ideas.repec.org/a/ahc/journl/y2022id1599.html
   My bibliography  Save this article

The development of the financial system of Saudi Arabia as one of the key areas in the country’s economy

Author

Listed:
  • S. Yu. Babenkova

Abstract

Along with most Arab countries, Saudi Arabia faced the consequences of two crises, falling oil prices and coronovirus. Being one of the leaders in oil production, its budget has undergone various changes over the years, both in the direction of increasing and decreasing government revenues and expenditures. However, as you know, the pandemic gave a powerful impetus to the development of digital technologies, including in the financial field. SaudiArabia is no exception to the rule. Despite the fact that the Kingdom is considered to be a fairly closed country, the consistent implementation of the Vision 2030 concept has opened up wide ways for both the domestic market of the country and foreign investors to realize the financial potential of households and their counterparties.Of course, the oil sector plays the first and most important role in the country, but it is worth noting that the financial sector, which includes the largest Islamic institutions, subject to further modernization and digitalization, in the medium term may not be much inferior in volume to the hydrocarbon sector. The development of diversification in terms of strengthening the role of non–oil sectors with the stable support of the government of the country shows this.

Suggested Citation

  • S. Yu. Babenkova, 2022. "The development of the financial system of Saudi Arabia as one of the key areas in the country’s economy," Entrepreneur’s Guide, JSC “Publishing Agency “Science and Educationâ€, vol. 15(1).
    • Handle: RePEc:ahc:journl:y:2022:id:1599
    DOI: 10.24182/2073-9885-2022-15-1-18-33
    as

    Download full text from publisher

    File URL: https://www.pp-mag.ru/jour/article/viewFile/1599/1566
    Download Restriction: no
    File URL: https://libkey.io/10.24182/2073-9885-2022-15-1-18-33?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Saima Javaid & Suha Alalawi, 2018. "Performance and Profitability of Islamic Banks in Saudi Arabia: An Empirical Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(1), pages 38-51, January.
    2. Saima Javaid & Suha Alalawi, 2018. "Performance and Profitability of Islamic Banks in Saudi Arabia: An Empirical Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(1), pages 38-51.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ghaith N. Al-Eitan & Ayman M. Alkhazaleh & Ahmad S. Alkazali & Bassam Al-Own, 2021. "The Internal and External Determinants of the Performance of Jordanian Islamic Banks: A Panel Data Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(8), pages 644-657, August.
    2. Puji Sucia Sukmaningrum, 2020. "Determinants of Islamic Bank Profitability: Evidence from Indonesia," GATR Journals jfbr167, Global Academy of Training and Research (GATR) Enterprise.
    3. Fahd Al-Shaghdari & Barjoyai Bardai, 2020. "The Impact of Bank Characteristics and Macroeconomic Variables on the Islamic Commercial Banks Financial Performances: Case of Indonesia," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 7(10), pages 16-21, October.
    4. Nathaniel Karel DJAYA & Ika YANUARTI, 2021. "The Influence Of Capital Adequacy Ratio And Non-Performing Loan On Profitability Of Commercial Banks Listed On The Indonesia Stock Exchange In 2017-2019," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(4), pages 80-94, December.
    5. Eissa A. Al-Homaidi & Mosab I. Tabash & Anwar Ahmad & David McMillan, 2020. "The profitability of islamic banks and voluntary disclosure: empirical insights from Yemen," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1778406-177, January.
    6. Dr. Sana Fayyaz & Dr. Syed Wahid Ali & Tariq Khalid, 2024. "Profitability of Islamic Banks in Pakistan: An Empirical Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 741-746.
    7. Roukia Bouhider, 2021. "Econometric study of the effect of deposits on Islamic Banks profitability: Evidence from Malaysia," Economics Bulletin, AccessEcon, vol. 41(3), pages 1292-1302.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ahc:journl:y:2022:id:1599. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ð ÐµÐ´Ð°ÐºÑ†Ð¸Ñ (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.