Regulatory Alerts2020-06-23
Principles of Conduct and Business Ethics in Financial Institutions
The Saudi Central Bank issued this circular to expand the definition of "financial institutions" under its existing Principles of Conduct and Business Ethics to explicitly include Al-Sarqah companies and institutions operating within the Kingdom. This amendment requires these newly included entities to adhere to established standards of professional discipline, integrity, transparency, accountability, efficiency, loyalty, and effectiveness in employee conduct. The directive mandates immediate implementation by the affected entities to ensure consistent regulatory compliance across all designated financial centers.
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