Regulatory Alerts2023-09-18
Compliance with the Updated Personal Data Protection System and its Implementing Regulations
The Saudi Central Bank mandates all supervised financial institutions to fully implement the updated Personal Data Protection System and its implementing regulations, which took effect on 14 September 2023. Institutions must review and align their internal policies and procedures within one year, submit a semi-annual compliance assessment via email starting in 2024, and cooperate with the Bank’s supervisory inspection visits. This directive establishes a centralized communication channel at CRC.Compliance@SAMA.GOV.SA to ensure ongoing regulatory oversight and standardized data governance across the financial sector.
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