Regulatory Alerts2017-05-27
Record Retention Guidelines
The Saudi Central Bank (SAMA) issued a circular mandating that all banks operating in the Kingdom retain records and paper documents for at least ten years, as stipulated by Royal Order No. 32749. This retention must be conducted electronically through secure, highly reliable storage media in coordination with the Ministry of Communications and Information Technology. Compliance takes effect immediately upon issuance, with detailed implementation guidelines to be published following further regulatory coordination.
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