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Saudi c.bank gov says state guarantees deposits

Mon Oct 27, 2008 8:08am EDT

RIYADH, Oct 27 (Reuters) - Saudi Arabia's Supreme Economic Council has offered guarantees for bank deposits in the world's top oil exporter, the central bank governor, Hamad Saud al-Sayyari, said on Monday.

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The economic council, Saudi Arabia's highest economic body, said on Oct. 16 the government would "continue to ensure the health of Saudi banks and bank deposits".

Sayyari said there was no need for fear over the safety of bank deposits.

(Reporting by Souhail Karam; Editing by Daliah Merzaban)

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