Regulatory Alerts2022-06-19
Data Quality Improvement Project in the E-commerce Sector in the Kingdom
The Saudi Central Bank (SAMA) issued this circular mandating all domestic banks and financial institutions to fully comply with the operational framework, technical rules, and data transmission mechanisms for the Data Quality Improvement Project in e-commerce. Institutions must complete all project requirements, adhere to Saudi Payments' agreed data-sharing procedures, and submit their adopted internal procedures via email within twenty working days. This directive ensures alignment with the Personal Data Protection System by standardizing how personal data is preserved, collected, processed, and shared across the sector.
Share