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SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
This Regulation sets out SAMA’s requirements with regard to banks’ offering of new products and services and regulatory requirements of notifying SAMA prior offering a new product or service, and the required supporting documents to be submitted. In addition, the regulation aim to improve the time-to-market for banks to introduce new product and service, and promoting sound risk management practices in managing and controlling risks associated with banking products and services.
