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  • Enforcement and Financial Penalties

    • Instructions for Publishing Banking Penalties

      No: 391000035993 Date(g): 17/12/2017 | Date(h): 29/3/1439Status: In-Force

      Translated Document

       

      Based on SAMA's supervisory and regulatory role over financial institutions under its supervision, and its commitment to applying the principles of fairness and transparency to enhance trust in the banking sector, enabling users of financial data and decision-makers, including shareholders, investors, lenders, and bank customers in general, to access the financial penalties imposed by SAMA on banks due to violations of the supervisory regulations, the following has been decided:

      First: Banks must publish in their annual reports the banking violations that have been subjected to punitive decisions from SAMA under the section "SAMA Punitive Decisions". This should include violations from the current financial year and those from the previous financial year (excluding this year, publication is limited to the current year only). The publication must include the nature of the violation, the number of punitive decisions, and the total amount of fines in Saudi Riyals, according to the format provided in the table below:

      Subject of Violation

      Previous Financial Year

      Current Financial Year

       
       

      Number of Punitive Decisions

      Total Amount of Financial Penalties (SAR)

      Number of Punitive Decisions

      Total Amount of Financial Penalties (SAR)

      Violations of SAMA's Supervisory Instructions

      3

      1,500,000

      None

       

      Violation of SAMA's Customer Protection Instructions

       

      5

      250,000

      6

      300,000

       

      Second: The subjects of violations shall be determined according to the accompanying guide for classifying subjects mentioned in these instructions only

      According to the following subjects:

      Violation of SAMA's Supervisory Instructions.

      Violation of SAMA's Customer Protection Instructions.

      Violation of SAMA's Due Diligence Instructions.

      Violation of SAMA's Performance Level Instructions for ATMs and POS Devices.

      Violation of SAMA's Due Diligence Instructions for Anti-Money Laundering and Counter-Terrorism Financing.

      Please note that SAMA will publish the violations reported in the banks' annual reports on its website.

      • Annex: Instructions for Publishing Banking Penalties

         

        Classification Guide for Banking Violations

        Subject of Violation in the Punitive DecisionSubject of Violation when Published
        Violation of Banking Procedures Instructions (Judicial)Violation of Central Bank Supervisory Instructions
        Violation of Banking Procedures Instructions (Civil)Violation of Central Bank Supervisory Instructions
        Violation of Banking Procedures Instructions (Security)Violation of Central Bank Supervisory Instructions
        Violation of Instructions on Disclosure and Seizure of Balances and AccountsViolation of Central Bank Supervisory Instructions
        Violation of Inspection InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Data Request InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Liquidity InstructionsViolation of Central Bank Supervisory Instructions
        Violation of SIBOR InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Interest Rate InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Requirements for Appointments in Leadership PositionsViolation of Central Bank Supervisory Instructions
        Violation of Instructions for Opening Branches and Installing ATMsViolation of Central Bank Supervisory Instructions
        Violation of Instructions for Outsourcing Tasks to Third PartiesViolation of Central Bank Supervisory Instructions
        Violation of Banking Products and Services InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Clearing House InstructionsViolation of Central Bank Supervisory Instructions
        Violation of SARIE InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Electronic Service Level Instructions via the Saudi Payments NetworkViolation of Central Bank Supervisory Instructions
        Violation of Internal Bank Policies and InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Security Safety InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Saudization Program InstructionsViolation of Central Bank Supervisory Instructions
        Violation of Operational Rules and Procedures for the Saudi Payments NetworkViolation of Central Bank Supervisory Instructions
        Violation of Customer Protection InstructionsViolation of Central Bank Customer Protection Instructions
        Violation of Automated Claims Processing Instructions (CPS)Violation of Central Bank Customer Protection Instructions
        Violation of Anti-Money Laundering and Counter-Terrorism Financing InstructionsViolation of Central Bank Due Diligence Instructions for Anti-Money Laundering and Counter-Terrorism Financing.
        Violation of Bank Account Opening and Operation InstructionsViolation of Central Bank Due Diligence Instructions
        Violations of Central Bank Performance Level Instructions for ATMs and POS DevicesViolations of Central Bank Performance Level Instructions for ATMs and POS Devices
        OtherViolation of Central Bank Supervisory Instructions