2.1.4 Robbery and Burglary
| Status: In-Force |
Although a highly "cash rich" society, robbery and burglary do not currently represent a significant source of operational risk in Saudi Arabia. This can be attributed to the deterrent effect of physical security measures taken by banks and law enforcement agencies, the severity of judicial punishment, and cultural factors within Saudi society, and the lack of significant illegal drug problem within the Kingdom. Studies in other countries have shown that the majority of robberies and burglaries directed against bank branches and ATMs are drug related. Therefore, barring significant social or political changes within the Kingdom, it seems unlikely that robbery or burglary will present a major operational exposure to Saudi banks within the foreseeable future. In recognition of these trends the Agency has issued detailed rules in 1995 entitled "Minimum Physical Security Standards".