Regulatory Alerts2018-06-10
Added · Updated
Circular on Compliance with Sanctions Lists of Relevant Jurisdictions
The Governor of the central bank reiterates the obligation for banks operating in the Kingdom to adhere to sanctions lists issued by countries where they conduct operations within their legal jurisdiction. This directive requires banks to comply with these external sanctions to mitigate associated legal and reputational risks. The instruction serves as a reminder of existing requirements established in circular No. (10/1/15251) dated 21/12/2014.
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