Saudi Central Bank Checks Local Bank's IPO in Saudi Arabia

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      Three sources familiar with the situation said that the Saudi Arabian Central Bank was examining the local bank's exposure to Saudi Arabian Oil Corporation (Saudi Arabia Amy). The state-owned Saudi Ami is about to launch an initial public offering (IPO), and there may be many Saudi investors seeking loans to buy their shares.
Two of the sources said that the Saudi Monetary Authority (SAMA) contacted Saudi banks last week to ask them a series of questions about their exposure to Saudi Arabian-American loans.
Saudi investors are expected to be big buyers of Saudi Arabia's Ami shares, partly because last month's attack on Saudi oil facilities weakened crude oil production and exposed the country's defensive weaknesses, and Saudi people wanted to hold part of the country's most valuable assets out of patriotism.


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