Regulatory Alerts2020-12-13
Compliance of financial institutions with the circulars issued by the Saudi Central Bank
The Saudi Central Bank (SAMA) has issued an instruction to finance companies operating in the Kingdom announcing the imminent launch of the "SAMA Circulars Portal" to centralize and publicly disseminate regulatory directives. The Bank clarifies that this digital portal does not exempt financial institutions from their existing compliance obligations, as official instructions will continue to be formally communicated via written correspondence or designated administrative emails. Institutions are required to adhere to the attached master list of instructions effective from dispatch and ensure ongoing compliance with all regulatory directives regardless of their publication on the new portal.
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