Regulatory Alerts2014-09-24
Principles for Sound Liquidity Risk Management and Supervision
The Saudi Arabian Monetary Agency (SAMA) previously issued a circular on December 5, 2008, titled "Principles for Sound Liquidity Risk Management and Supervision," instructing banks to integrate these principles into their internal systems and processes and audit their compliance. After an initial audit and submission of findings, SAMA is now revisiting this circular to reassess implementation. Consequently, banks are required to conduct a new internal audit to evaluate their adherence to these Principles and submit a report to the Director of Banking Supervision by March 31, 2015.
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