Bloomberg Saudi Arabia’s central bank plans to drain excess liquidity from the banking system to mitigate pressure on the riyal’s peg to the dollar as US interest rates rise, Governor Ahmed Abdulkarim Alkholifey said. The Saudi Arabian Monetary Authority, as the central bank is known, will allow some deposits placed with commercial banks in 2016 to mature without rolling them ...

Bloomberg SBM Holdings Ltd., owner of Mauritius’s second-biggest bank, said it expects to be one of Kenya’s largest lenders within a year after acquiring part of Chase Bank Kenya Ltd., while remaining open to more deals in the country. The purchase, signed off by Kenya’s central bank last week, will increase competition among lenders in East Africa’s biggest economy, where ...

Bloomberg UK Chancellor of the Exchequer Philip Hammond has indicated a willingness to look abroad when he begins his search for a successor to Bank of England Governor Mark Carney. Canadian-born Carney is due to step down at the end of June 2019 after becoming the first foreigner to run the UK central bank in its three centuries. Hammond declined ...