Saudi Arabian Monetary Agency, the kingdom's central bank, has changed its name to Saudi Arabian Monetary Authority.

The acronym SAMA, however, remains unchanged, said the Saudi central bank in a statement.

All existing agreements, obligations and contracts under the previous name of Sama will continue to remain in force, it stated.

Established in 1952, Sama is currently headed by Dr Ahmed Abdulkarim Alkholifey, who assumed office as governor on May 8, 2016. He is being ably assisted by Abdulaziz Saleh Al Furaih, the vice chairman and other board members Hamad Saud Al Sayari, Abdulaziz Muhammad Al Athel and Khalid Ahmed Al Juffali.-TradeArabia News Service