Regulatory Alerts2019-08-05
Circular Re. Principles of Conduct and Work Ethics in Financial Institutions
The Saudi Arabian Monetary Authority (SAMA) issued circular 72203/67 on 1440/12/04 to enforce the Principles of Conduct and Work Ethics in Financial Institutions. The directive mandates that all regulated entities, including banks, insurance companies, and credit information firms, implement these principles within three months of the circular's date. Furthermore, institutions are required to submit a compliance plan to SAMA within one month of the circular's issuance.
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