Saudis rule out liquidity problem

RIYADH, Saudi Arabia (AP) -- A Saudi official says the oil-rich kingdom is facing no liquidity problem and is ruling out negative effects on its economy from the global credit crisis.
The official news agency SPA quoted Mohammed al-Jasser, deputy governor of the Saudi Monitory Agency, the country's central bank, as saying the bank is capable of dealing with any liquidity need.In late Tuesday night's statement, al-Jasser says bank deposits are safe and economic growth healthy.
Al-Jasser also has assured borrowers that banks will continue usual lending operations.
Like elsewhere in the Middle East, shares in Saudi Arabia's exchange plunged 7 percent Tuesday, a day after hitting a four-year low with a 9.81 percent drop