Regulatory Alerts2022-03-08 | 29716Guideline for the Management of Outsourcing Risks
The financial regulator issued this guideline to establish risk management standards for outsourcing arrangements across the banking, bureau de change, and insurance sectors. Entities must implement robust governance frameworks, conduct thorough due diligence on service providers, and maintain continuous oversight to mitigate operational and reputational exposures. The directive mandates clear reporting protocols and contingency planning to ensure service continuity and regulatory compliance throughout the outsourcing lifecycle.
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