Regulatory Alerts2014-01-01
Board of Directors Decision No. (17) of 2014 (Updated Version in 2018)
The General Authority for Financial Supervision amended Decision No. 17 of 2014 to update the conditions and procedures for registering and maintaining foreign branches. This revision integrates provisions from Board decisions 157 and 104, replacing specific clauses in Articles 1, 2, 3, and 5, and reordering Article 1 after cancelling clause 5. The updated regulatory text took effect on July 16, 2018, formalizing the current compliance requirements for foreign branch operations.
1 Decision of the Board of Directors of the Authority No. (17) for the year 2014 dated 2014/2/9 Regarding the conditions and procedures for registration and continued registration of foreign branches Last amended on 2018/7/16 According to the deposited banks and in the registered owners register 1 Board of Directors of the General Authority for Financial Supervision has decided 2 Article (1) The Decision was amended by the Board of Directors' decisions Nos. 157 dated 2014/11/12 and the Board's decision No. 104 dated 2018/7/16. 1 2 Reordering the clauses of Article One after cancelling clause No. (5) pursuant to the Board of Directors' decision No. 157 dated 2014/11/12.
2 .5 Article (2) . 3 Article (3) . 4 3Clause No. 5 of Article Two was replaced by the Board of Directors' decision No. 104 dated 2018/7/16. A new paragraph was added to the end of Article No. 3 pursuant to the Board of Directors' decision No. 157 dated 2014/11/12. 4
3 Article (4) 5 Article (5) Article (6) The text of Article Five was replaced by the Board of Directors' decision No. 104 dated 2018/7/16. 5