"I think large banks are properly supervised and therefore the risk that some people see, I don't see," Finance Minister Mohammed al-Jadaan said, a day after Credit Suisse's shares closed 24% lower after Saudi National Bank, its main shareholder, said it would not raise its stake due to regulatory constraints.
Financial innovation vital but checks needed for stability: Saudi minister
Mohammed Al-Jadaan also warned of risks if the central bank digital currency was introduced as it will require citizens to provide large amounts of data.
