Regulatory Alerts2024-07-10
Supporting the Programs of the Martyrs, Wounded, Prisoners of War and Missing Persons Fund
Saudi Central Bank issued this circular to direct local banks and financial institutions to support the Martyrs, Wounded, Prisoners of War and Missing Persons Fund through their corporate social responsibility initiatives. Building on prior Council of Ministers approval that established the fund’s legal and financial independence, the directive invites banks to coordinate directly with the Fund regarding program support. The circular applies to all domestic banking entities and formalizes a structured mechanism for aligning bank CSR efforts with the Fund’s operational needs.
Saudi Central Bank
Reference No.: 46001497 Date: 1446/01/04 (Hijri) Attachments: None
Circular
To the Esteemed,
Peace, mercy of Allah and His blessings be upon you,
Subject: Supporting the Programs of the Martyrs, Wounded, Prisoners of War and Missing Persons Fund.
In continuation of the Saudi Central Bank Circular No. 43105952 dated 1443/12/29 Hijri, which refers to the Council of Ministers Resolution No. (366) dated 1436/08/14 Hijri approving the regulation of the Martyrs, Wounded, Prisoners of War and Missing Persons Fund, which established a fund possessing legal personality and financial and administrative independence.
And in light of the efforts of our brave soldiers and those stationed on the borders of the Kingdom of Saudi Arabia in safeguarding its security, and with the aim of supporting this cherished group; the Saudi Central Bank seeks to support the Fund's programs through banks' corporate social responsibility (CSR) initiatives, and coordination may be established with the Fund in this regard.
Accept my regards,
Yazeed bin Ahmed Al-Sheikh Deputy Governor for Supervision
Distribution Scope:
- Local banks and financial institutions.
P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia | Tel: +966 4633000