Regulatory Alerts2019-12-09
Professional Certificates of Financial Institution Employees
The Saudi Central Bank mandates that employees of banks, financing companies, currency exchange firms, and their affiliated remittance centers obtain updated professional certificates in Individual Banking Fundamentals, Credit Advisor (Level One), and Currency Exchange & Remittances. The circular updates existing examinations and training materials to align with current regulations, introduces a new currency exchange certificate, and extends mandatory compliance to previously certified staff under the old versions. Institutions must ensure at least 25% of their workforce completes these certifications every six months, with full compliance required within two years from the circular's issuance date.
Share