RIYADH, 25th June, 2016 (WAM) — In a precautionary measure over the UK’s exit from the EU, the Governor of the Saudi Arabian Monetary Agency (SAMA) Dr. Ahmed bin Abdul Karim Al-Khulaifi, has said SAMA is following up the developments in the financial markets.

He said that the agency has revised its investment policy in terms of Euro-denominated assets and as well as those related to the Sterling Pound in the light of economic and political developments and thus, some adjustments have been made, at the time, according to the Saudi Press Agency (SPA).

It is too early to judge the lasting impact of the exit of the UK from the EU, whether on the British or the European economy, or on financial and investment markets, the central banker remarked, adding that for the banking sector, “we expect that the impact will be limited, because it is less exposed to the two aforementioned currencies’ movements.”

Hazem

WAM/Majok