Regulatory Alerts2017-09-18
Annual Branch Expansion Plan (ABEP)
The Saudi Central Bank (SAMA) requires commercial banks to implement an Annual Branch Expansion Plan (ABEP) that standardizes the licensing, setup, and reporting of new branch locations. Banks must obtain internal audit compliance confirmations, submit all license applications by December 31 of the approval year, and ensure each licensed branch becomes operational within six months. SAMA will expedite the review process while enforcing strict compliance through supervisory oversight and mandating written operational notifications within fourteen days of commencement.
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