Regulatory Alerts2018-07-03
Added · Updated
Legal Entity Identifier (LEI)
The Saudi Central Bank (SAMA) issued this circular requiring all domestic banks, insurance and reinsurance companies, and financing firms (including their subsidiaries) to obtain a Legal Entity Identifier (LEI) from an accredited Local Operating Unit by August 1, 2018. This mandate ensures financial entities register with the Global LEI Foundation (GLEIF) to enable systematic risk assessment, maintain market stability, and provide accurate, transparent financial data. Affiliated financial groups must also be formally notified of the registration's importance for international compliance and operational efficiency.
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