Saudi cbank names Thomson Reuters as SAIBOR administrator

21/11/2016 Argaam

Saudi Arabian Monetary Agency has approved naming Thomson Reuters as the benchmark administrator and calculation agent for the Saudi Arabian Interbank Offer Rate (SAIBOR) starting Sunday, Nov. 20 2016.

 

In a statement, the kingdom’s central bank said that this comes as part of its supervisory and regulatory mandate over the banking sector, and aims to promote transparency and credibility in the methods for setting SAIBOR.

 

A panel of banks shall contribute to the SAIBOR calculating process, which will be administered by Thomson Reuters according to the processes and guidelines of the International Organization of Securities Commission (IOSCO).

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