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Annexure (1): Checklist

No: 45032226 Date(g): 28/11/2023 | Date(h): 16/5/1445 Status: In-Force

 

No.DocumentAttached
YesNoNot Applicable
1A formal letter signed by the Chief Compliance Officer notifying or requesting SAMA's no-objection to offer new product or service 
2Application form for new banking products and services (Annexure 2) 
3Statement of compliance (Annexure 3) 
4

Consumer protection checklist (for retail products and services) signed by the Product or

Service Developer and Chief Compliance Officer (Annexure 4)

5Copies of supporting documents e.g. terms and conditions, contracts, process workflow (Images), promotional material and any other related documents
6Contract draft / service level agreement (SLA) / non-disclosure agreement (NDA) if there is a third party in the product and service
7

Risk assessment report which describe the product or service all inherent risks from both the bank's and customer's perspective together with the systems and processes that are in place to mitigate these risks. The following risks need to be considered at minimum:

  • Credit Risk
  • Market Risk
  • Operational Risk
  • Strategic Risk
  • AML&CFT Risk
  • Legal Risk
  • Technology Risk
  • Cyber Risk
  • Fraud Risk
  • Business Continuity Risk
  • Data Privacy Risk
  • Reputational Risk
8Necessary Shari’ah Committee Approvals for new Shari’ah Compliant Products or Services.

 

I, the undersigned, acknowledge that all the above-mentioned data and information and attached documents are correct, accurate and complete
Chief Compliance Officer 
DateDay/Month/Year
Signature