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Ensuring that SAMA's Non-Objection is Received Before Providing Information, Supervisory, and Statistical Data to Governmental and Non-Governmental Entities

No: 149650000067 Date(g): 15/11/2018 | Date(h): 7/3/1440 Status: In-Force

Translated Document

Referring to the periodic supervisory data provided to SAMA by banks, which plays a crucial role in SAMA's supervisory and regulatory functions over the banking sector by enhancing its stability and financial solvency, as well as improving the level of banking and financial services. Additionally, SAMA is keen on increasing the efficiency of reports and statistical bulletins by implementing the best measures to verify the accuracy of this data and seeking to enhance the principle of transparency and clarity by publishing it across all available channels, and in view of what has been observed that some banks have provided governmental and non-governmental entities with certain supervisory and statistical information based on requests from those entities before officially approving or publishing them through SAMA or through periodic reports issued by the banks after completing all verification procedures regarding the accuracy and integrity of the data.

SAMA emphasizes that all banks must obtain SAMA's non-objection before providing governmental and non-governmental entities with the supervisory data that is periodically submitted to SAMA, as well as unpublished statistical data.