Regulatory Alerts2012-10-01
SAMA Notice on BCBS Finalized Principles for the Supervision of Financial Conglomerates
The Saudi Arabian Monetary Agency requires all domestic banks to access, study, and implement the finalized BCBS "Principles for the Supervision of Financial Conglomerates" to strengthen internal governance, risk management, and control systems. Issued by the Joint Forum of banking, securities, and insurance regulators, these updated principles address cross-sectoral risks that directly impact Saudi financial institutions. Banks must review the document via the Bank for International Settlements website and align their operational frameworks with the newly established supervisory standards.
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