Regulatory Alerts2022-04-06
Added · Updated
Circular on Business Continuity Plan Audits for Licensed Banks
The Central Bank of Saudi Arabia requires licensed banks to assign external auditors to examine the reliability of their business continuity plans within 60 days of the circular's issuance. The audit scope must cover ICT infrastructure, organizational mechanisms, and the entire plan lifecycle, with results and compliance plans submitted to the regulator. This directive applies specifically to licensed banks regarding their critical operations and electronic clearing works.
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