As the US struggled with its massive banking sector bailout, Saudi Arabia quietly guaranteed the stability of its banks. The move was largely seen as a symbolic gesture to boost investor confidence in an economy that is fundamentally sound and a country that is home to some of the best-capitalised financial institutions in the Middle East.
Despite a strong economy, Saudi Arabia’s market has suffered from the global economic crisis along with the rest of the world. The Saudi stock exchange, known as the Tadawul, has today lost nearly half its value after peaking at about 11,700 in January 2008. Still, domestic demand continues unabated and Saudi Arabian banks remain some of the healthiest in...
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