1.2 Scope of Implementation
| No: 41033343 | Date(g): 6/1/2020 | Date(h): 11/5/1441 | Status: In-Force |
These guidelines are applicable as better practices for all banks licensed under Banking Control Law, including Foreign Bank Branches. These guidelines should be read in conjunction with Mandatory Rules on the Management of Problem Loans and Rules on Credit Risk Classification and Provisioning issued by Saudi Central Bank* (SAMA).
Whenever the requirements specified under these guidelines differ from existing laws, regulations and circulars issued by SAMA or other government organizations, the later shall take precedence over these guidelines
* The "Saudi Arabian Monetary Agency" was replaced By the "Saudi Central Bank" in accordance with The Saudi Central Bank Law No. (M/36), dated 11/04/1442H, corresponding to 26/11/2020G.