1. SAMA Approach to Foreign Banks Branches (FBB) Regulation

No: 4922/67

Date(g): 24/9/2019 | Date(h): 25/1/1441

1.	These SAMA regulations are applicable to all FBBs operating in the Kingdom of Saudi Arabia (KSA).
2.	The regulations are issued in accordance with the authority vested in SAMA under the Charter of Saudi Arabian Monetary Authority -issued via Royal Decree No. 23 dated 23/5/1377 H, which entrusts SAMA to supervise and regulate commercial banks, and to set relevant rules whenever deemed necessary; and the Banking Control Law - issued via Royal Decree No. M/5 dated 22/2/1386 H Article 16 (3), which sets SAMA as the legislative body responsible for exercising regulatory and supervisory control over banks, issuing general rules and overseeing that all banks comply and effectively implement the relevant laws and regulations.
3.	SAMA requires all FBBs to comply with the Banking Control Law (BCL), its prudential requirements, and other relevant laws and regulations as applicable to all local and foreign banks.
4.	In addition to these FBB-specific prudential requirements, FBBs are also required to comply with the requirements of SAMA circulars covering conduct regulations and standards as issued by SAMA, for all banks.