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2014-07-09

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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�aubi %lrabian ,iltllonetarp %lgenrp -Banking Supervision Dept. \ ,I From To Attention Subject Saudi Arabian Monetary Agency All Banks 351000118022 : ;>------'JI 1435/0Q/12 : (;,,...)1-lll : .:.Wi,.ll Managing Directors, Chief Executive Officers and General Managers General Guidelines for the Working of the Banking Committees SAMA has updated the General Guidelines for the Working of the Banks Committees with a view of enhancing the efficiency and effectiveness of all Committees. The update has also incorporated the main recommendations of the Banks' Chairman Committee arising from the report dated 11 April 2012 on work done by the Banks' Special Committee. SAMA would like the Chairman of the Managing Directors Committee to ensure the following:

  1. The Draft General Guidelines are to be circulated to all members of the MDs and Chairmen's Committee for their comments by 31 July 2014.
  2. The Draft Guidelines are submitted to all the Chairmen of various Bank Committees with a request for them to send their comments to SAMA by 31 July 2014.
  3. Request the Chairman of each Banking Committee to submit to SAMA by 31 July 2014 the Basic Information as indicated in Annex 2 of the Draft· Guidelines. The Banks' comments on the guidelines and the Basic Information on Annex 2 should' be forwarded. jjl Encl.: a/s Abdulaziz AI-Helaissi Deputy Governor for Supervision P. 0. Box 2992 - Riyadh 11169, Saudi Arabia - Tel.: 01-463 3000 - Telex 404390 SJ - Fax 01-466 2119
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