War in Europe has sent investors scrambling for safety, and in a world of rate hikes and soaring commodity costs, few havens stand out quite like the Kingdom of Saudi Arabia. A currently fading pandemic and rising energy prices have returned the economy to growth rates not seen in almost a decade. The renewed surge in oil prices will further swell government coffers and spill through into a banking sector undergoing an unprecedented transition.
As the world entered 2022, the Saudi banking sector was awash with optimism.
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