RegAlert

Rule · SAMA · 8 Oct 2017

SAMA New Banking Products and Services Guideline

licensing
consumer

The Saudi Arabian Monetary Authority (SAMA) issued this guideline to establish a comprehensive regulatory framework for the introduction, approval, and oversight of new banking products and services by licensed banks. The document requires financial institutions to implement robust risk management, consumer protection, and Shariah compliance mechanisms while ensuring transparent reporting and governance structures. It standardizes the licensing process for innovative financial offerings to mitigate unforeseen operational risks and maintain market stability.

Saudi ArabiaSaudi Central Bank

Saudi Arabian Monetary Authority

SAMA New Banking Products and Services Guideline

1. INTRODUCTION

Purpose and Scope

Banks occasionally introduce new products or services in the course of their business. These same innovations, however, could cause unforeseen and undesirable results. Licensed banks must ensure that new products and services comply with applicable regulations, guidelines, and Shariah principles where relevant. This guideline outlines the requirements for licensing, risk management, consumer protection, and reporting for new banking products and services.

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  • Obligation 1
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Lineage: Superseded

A newer document in RegAlert replaces this one.

SAMA New Banking Products andServices Guideline2017-10-08 · this documentSAMA New Banking Products and Services Guideline (2017-10-08)SAMA New Banking Products andServices Regulation2023 · SAMASAMA New Banking Products and Services Regulation (2023-11-28)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
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Superseded by

Timeline

Amended 1 time · last 2023-11-28

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Source: Saudi Central Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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