Regulatory Alerts2020-11-02
The importance of adhering to regulations related to the commercial environment and credit transactions
The Saudi Central Bank, via the Office of the Deputy Governor for Supervision, requires all financing entities in the Kingdom to incorporate bankruptcy initiation risks into credit risk assessments and ensure mortgage and collateral transactions comply with the Registered Mortgage, Bankruptcy, Commercial Mortgage, and Movable Property Security Rights Systems. The circular mandates verified procedures and mechanisms to uphold financial stability, protect credit dealings, and sustain the commercial environment. Financing entities must implement these compliance measures effective immediately upon the circular's issuance date.
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