Regulatory Alerts2021-04-25
Updating the requirements for appointment to leadership positions in financial institutions supervised by the Saudi Central Bank
The Saudi Central Bank (SAMA) has updated the requirements for appointing leadership positions in supervised financial institutions, expanding the scope to include activities supporting financing. This revision amends the second edition of Circular No. 1994/67 (dated 10/01/1441H) and mandates compliance for banks, financing entities, credit information companies, exchange institutions, and payment systems operating within the Kingdom. The updated requirements are now effective as of the circular's issuance date and are publicly available on SAMA's official website.
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