Interbank rates in the kingdom of Saudi Arabia
Saudi Arabian Interbank Offered Rate (SAIBOR)
We are the official administrator and calculator of SAIBOR – the benchmark rate for interbank lending in the Kingdom of Saudi Arabia and a reference for a range of financial transactions.
Why choose SAIBOR?
SAIBOR is the rate at which contributing banks would be able to borrow unsecured interbank funds in Saudi Riyals, were they to accept offers in reasonable market size from other banks in the SAIBOR panel at 11:00 am Riyadh time.
You can access the SAIBOR rates via Eikon, our data feeds, or from other information vendors.
SAIBOR is administered by RBSL.
Refinitiv Limited (‘RL’) is the administrator of numerous indices and benchmarks.
RL assigned Refinitiv Benchmark Services (UK) Limited (‘RBSL’) to be the regulated administrator of certain benchmarks, such as those used within the EU and thus caught by the EU Benchmark Regulation (EU BMR). RBSL is authorized by the FCA, as listed on the ESMA Register, to administer benchmarks under the EU BMR.
As a next step, the following benchmarks will move to be administered by RBSL by the end of December 2019:
- WM/Reuters Spot, Forward and NDF benchmark rates
- Thomson Reuters/CoreCommodity CRB® Index
- Thomson Reuters Convertible Indices
Note: For those benchmarks administered by a non-EU entity within the global Refinitiv Group (i.e. a third country administrator), RL has until the end of the BMR Extension Transition period (Dec 2021) to migrate those benchmarks into an authorized benchmark administrator (i.e. RBSL).
Those RL benchmarks that fall under the BMR Extension Transition period and are under consideration for migration before the end of 2021 are:
- Thomson Reuters Local Currency Indices
- Thomson Reuters IX Global ESG Equal Weighted Index
- Thomson Reuters IX Global ESG High Dividend Low Volatility Equal Weighted Index
- Thomson Reuters IX Western Europe Small & Mid Cap Index
- Thomson Reuters GL Large/Mid D&I Ex Controversial Weapons Equal Weight Index
- Thomson Reuters Global Equal Opportunities Select Index
- Thomson Reuters Global Resource Protection Select Index
- Thomson Reuters Europe Equal Opportunities Select Index
- Thomson Reuters Country, Regional and Sector Indices
- Thomson Reuters Diversity & Inclusion Index
Features & benefits
What you get with SAIBOR
We ensure all financial benchmark methodologies are transparent and adhere to the IOSCO principles for financial benchmarks.
The benchmark relies on data from a number of submitters to ensure accuracy.
The rate is on page <SUAA>. Additional information: <SAIBOR01>. Individual bank submissions: <SAIBOR02> to <SAIBOR07>.
How it works
SAIBOR in detail
Administered and calculated in alignment with the IOSCO Principles for Financial Benchmarks, SAIBOR comprises 6 maturities – overnight, 1-week, 1-month, 3-month, 6-month, and 1-year.
The benchmark is calculated as the arithmetic average of submissions after the 2 highest and lowest rates have been discarded, and is published to 5 decimal places.
It is published from Sunday to Thursday at 11:00 Saudi Arabia Time, subject to local market holidays, as advised by the Saudi Arabian Monetary Authority (“SAMA”).
Find out more
Relevant to SAIBOR
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