THE ROLE OF BANKS IN FINANCIAL SYSTEM IN SAUDI ARABIA

Abstract

Banking has always played a great role and is also considered as the backbone of the economic development of a country. Banking provides the financial assistance to the private, public sector and the government of a country. The quick or rather faster economic growth is seen by those countries that have a stable financial sector in the country. The aim of this research is to create awareness with regard to the Economic Growth in Saudi Arabia and to generate exposure on the social satisfaction towards banking in Saudi Arabia. This research is important because, this study will analyze the perception of Saudi society towards Banking. This research highlights the extent to which the Saudi society is satisfied with the banking and the economic growth of Saudi Arabia. In the methodology of this research a quantitative approach is used. The target population is the population of Jeddah. Survey method will be used in order to collect results. Survey from 100 research participants is to be collected. The results of this study show that Saudi banks have contributed to providing social life by creating more employment opportunities, improving children’s education levels and promoting neglected sectors.