Regulatory Alerts2013-02-01
Circular on Rules on Credit Risk Management
The Banking Supervision Department, under the authority of Governor Fahad Almubarak, issued new Rules on Credit Risk Management that come into immediate effect. Banks are required to align their existing policies, procedures, and structures with these Rules by June 30, 2013. Furthermore, they must submit a Board-approved copy of their revised Credit Policy to the Agency by the same deadline, and should approach SAMA for guidance on any implementation issues.
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