Saudi Press highlights the importance of the development of the financial sector وكالة الأنباء السعودية



Riyadh, March 14, 2019, SPA — Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas
Al-Riyadh newspaper in its editorials entitled ( Advanced financial market) wrote: The development of the financial sector is one of the programs to achieve the vision of the Kingdom of Saudi Arabia 2030, and the strategic engine that relies on it to implement many vision programs. This accelerated program is based on three main pillars, which include empowering financial institutions to support private sector growth, And enable financial planning, to stimulate the citizen to save, finance and investment, and thus achieve its well-being, and contribute to economic diversification and job generation.
The Saudi Stock Exchange (Tadawul) announced the implementation of the first phase of the FTSE Russell, S & P Dow Jones Global Emerging Markets, and the listing of Tadawul in Emerging Markets indices, Kingdom to promote and develop the financial sector, stimulate investment, and improve the status of the Kingdom financially in the world markets.
The Custodian of the Two Holy Mosques stressed the role of the financial sector in promoting development and the importance of its growth to reach the objectives of the vision. This week, he received senior financial sector officials from the Ministry of Finance, the Monetary Authority, the Capital Market Authority, finance and insurance companies and brokerage companies. Is expected to take place next April, the Financial Sector Conference, which seeks to raise the contribution of the national financial sector to GDP, and its activities are an opportunity for all employees in the sector to discuss and development.
The paper stressed that economists consider the financial sector as the mainstay of the economy and the engine of other sectors. The program of financial sector development seeks to achieve several objectives that positively affect citizens’ lives, including financial diversity, financial comprehensiveness, financial stability and the promotion of investment culture. Statistics show that the savings rate in Saudi households Which is about 2.4% of the available annual income, which is less than the 10% global average recognized as a minimum to ensure long-term financial independence. The program aims to raise household savings from total income to 10% by 2020, Adult bank accounts from 74% to 80%.
In another subject Okaz newspaper in an editorial entitled (After its losses, Hezbollah is extorting the Lebanese government) said: The Hezbollah militia took advantage of the repercussions of the Syrian war on the Lebanese arena and imposed its influence on the new government in light of the deep financial crisis suffered by the party. This led to the expansion of its influence on the government in order to achieve financial gains and deepen its influence in Lebanon.
The observers said that Lebanese observers believe that this political change in Lebanon is tantamount to canceling the borders between Hezbollah and the Lebanese state. The beneficiaries are the party’s friends in Lebanon, including representatives of Iran and various Sunni and Shiite parties and organizations: the March 8 coalition, pro-Syrian political parties, Of the Muslim Brotherhood
Okaz added: In a statement on the sidelines of the February 14 anniversary of the assassination of his father, former Prime Minister Rafik al-Hariri, Saad Hariri said that Lebanon is not a state affiliated to any axis, and not an arena for the arms race. She stressed the commitment to distancing oneself.
The paper said that Hezbollah is trying to get out of its financial crisis in various ways, and has recently become an attack like a money mafia, and this was evident through the begging funds because of the severe financial crisis experienced by the party because of its close ties with the mullahs, which resulted in an international tightening on its resources Economic and economic sanctions in Lebanon and the sanctions imposed on Iran and its partners by the United States and its allies.
It stressed that the flow of funds is continuing from Iran to Lebanon with the help of countries such as Qatar and Turkey to strengthen the power of groups and political blocs and organizations and groups such as Hamas and the Muslim Brotherhood, which aims to destabilize Lebanon.
Okaz considered the road to be political in Lebanon because of Hezbollah’s political and financial hooliganism. He is seeking through the Lebanese government to take control of Lebanon or at least re-position after political losses with his Iranian ally.
–SPA
11:14 LOCAL TIME 08:14 GMT
0001



We will be happy to hear your thoughts

Leave a reply