Regulatory Alerts2014-07-09
General Guidelines for the Working of the Banking Committees
The Saudi Arabian Monetary Agency has updated its General Guidelines for the Working of the Banking Committees to enhance operational efficiency and incorporate key recommendations from a 2012 special committee report. The regulator directs the Managing Directors Committee Chairman to circulate draft guidelines for member comments and requests that all banking committee chairmen submit their feedback along with required basic information by 31 July 2014. All banks must ensure their respective committees review the proposals and forward consolidated comments and annexed data to the agency within the stipulated deadline.
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