Regulatory Alerts2021-04-17
Circular Re. Control and Awareness Measures for Branch and Customer Service Employees in Banks Operating in the Kingdom
The Saudi Central Bank issued circular 42063179 requiring all banks operating in the Kingdom to implement minimum control and awareness measures for branch and customer service employees by the end of Q3 2021. The directive mandates strict adherence to information security and business continuity standards, including rigorous access controls, password policies, and audit logging to mitigate operational risks and protect customer data. Banks must also establish periodic employee training, awareness campaigns, and internal audits to ensure compliance with these regulatory requirements.
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