Regulatory Alerts2018-11-21
Obligation to Obtain SAMA Non-Objection Before Providing Governmental and Non-Governmental Entities with Supervisory and Statistical Data
The Saudi Central Bank (SAMA) mandates that all finance companies operating in the Kingdom must obtain explicit non-objection approval before disclosing periodic supervisory data and unpublished statistical information to any governmental or non-governmental entities. This directive ensures the accuracy and reliability of regulatory reporting, thereby strengthening SAMA’s supervisory oversight and the overall financial resilience of the financing sector. Strict compliance is required to maintain transparency standards and prevent the unauthorized dissemination of sensitive institutional data.
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