Saudi Arabian Monetary Agency (SAMA) is the central bank of the Kingdom of Saudi Arabia. It was established in 1372H (1952) and has been entrusted with carrying out many functions in accordance with several laws and regulations. The Saudi Arabian Monetary Agency is responsible for operating a number of cross-bank electronic financial systems such as SPAN, SARIE, and SADAD. The important functions for SAMA are as follows: ● Deals with the banking affairs of the Government. ● Minting and issuing the national currency (Saudi Riyal). ● Managing the Kingdom’s foreign exchange reserves. ● Managing the monetary policy for maintaining the stability of prices and exchange rate. ● Promoting the growth of the financial system and ensuring its soundness. ● Supervising commercial banks and currency exchange dealers. ● Supervising cooperative insurance and finance companies. In addition to acting as the central bank of Saudi Arabia, the Saudi Arabian Monetary Agency controls SAMA Foreign Holdings, the sovereign wealth fund of Saudi Arabia. The fund is the third largest sovereign wealth fund in the world, with assets of over $700 billion. SAMA is also the Kingdom's investment authority. In this role, it is responsible for managing the country's foreign assets, inside and outside of the Kingdom.