Regulatory Alerts2020-03-05
Instructions for Publishing Sanctions
The Saudi Central Bank (SAMA) issued these Instructions for Publishing Sanctions to mandate financing and refinancing companies to disclose monetary and non-monetary violations in their annual board of directors' reports. The circular requires companies to publish the violation subject, decision count, and total fine amounts in Saudi Riyals under a designated heading, effective from the 2020 financial year report. SAMA will cross-check these disclosures against its internal records, publish them on its official website, and enforce statutory procedures for non-compliance.
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