Regulatory Alerts2015-11-25
Added · Updated
Confidentiality of Banking Information
The Saudi Arabian Monetary Authority mandates that banks, exchange houses, and the Saudi Credit Bureau must not disclose any financial or banking information about clients to any party without prior written approval from the Authority. This requirement applies to all domestic and foreign entities, including government bodies, and reinforces previous circulars regarding the mechanism for disclosing banking data. Recipients are required to inform all departments and branches of this directive and confirm compliance within one week of the circular's date.
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