SECTION 1 REQUIREMENTS AND RESPONSIBILITIES
Synopsis
This section describes the general requirements of the Security and Safety Guidelines and the responsibilities of the banks and SAMA.
1. Introduction
Since the last guidelines were introduced in June 1995 (1/1416) a number of major changes have affected the security and safety responsibilities of the Saudi banks to its staff, assets and customers.
A major consideration is the recent increase of criminal activity against Saudi banks in the form of robbery, theft and fraud. Whilst the initial guidelines provided suitable standards and requirements at the time, it was therefore, assessed that these required a detailed review process followed by a revision of the minimum security and safety standards.
The recent criminal activities and the advances in security and safety equipments, systems and procedures has provided an opportunity to implement more effective measures that incorporate international, regional and local standards that would only benefit the Saudi banks.
2. Security and Safety Standards and Requirements
SAMA has issued the Security and Safety Guidelines that are designed to provide the minimum standards in the following areas:
Implementation of a Corporate Security and Safety Plan
Standards for the implementation of Electronic Security and Safety Systems
Standards for the implementation of Physical Security and Safety Systems
Standards for the Cash in Transit procedures and transportation service providers
Standards and Procedures for the Security Guards operating in the main buildings and branches
These documents have been prepared using international consultants and reviewed by SAMA and associated government agencies prior to their dissemination to the Saudi Banks.
3. Security and Safety Unit
Saudi banks are required to appoint a senior and capable individual as a Security and Safety Manager who will be responsible for the design, planning and implementation of the minimum standards contained within the SAMA Security and Safety Guidelines. The Security and Safety Manager is to be provided the necessary personnel and resources to fulfil these obligations and thereby safeguard the staff, assets, customers and business operations of the bank.
4. Implementation Plan
A detailed Implementation Plan is attached at Appendix 1 to this Circular. The banks are required, within 30 days of the implementation date, to provide a certificate to the agency from an external security consultant that these requirements and standards have been implemented.
5. Effective Date
With this Circular is attached the final version of the SAMA Security and Safety Guidelines which supersede the previous guidelines and all memorandums and circulars issued prior to this date. The effective date for the implementation of these requirements is (01st July 2009).
To ensure regulatory compliance of the implementation of the new requirements, SAMA and the Joint Security Committee will carry out site visits to the banks using appointed representatives. The failure by a bank to meet the requirements and standards could lead to penalties prescribed under the Banking Control Law.
SUMMARY OF RESPONSIBILITIES
SAMA:
To ensure the effective implementation of the Security and Safety Guidelines the following responsibilities are to be undertaken by SAMA:
The Guidelines are to be implemented in full by all banks before the 01st July 2009.
The Guidelines are to supersede the previous version and any associated amendments, circulars and memos.
All matters regarding the Security and Safety of the banks will be coordinated through SAMA. All correspondences, responses and requirements from external organisations, agencies and ministerial departments will be reviewed, assessed and forwarded as formal amendments to all banks.
Amendments and updates to the Guidelines will be provided by SAMA electronically and/or hardcopy as applicable.
Regular audits of the Guidelines will be carried out by SAMA or its nominated external consultants to ensure compliance and implementation by the banks.
Annual audits of the Guidelines will be conducted to ensure the accuracy and validity of its content. The audits will be conducted internally or by its nominated external consultants.
BANKS:
To ensure the effective implementation of the Security and Safety Guidelines the following responsibilities are to be undertaken by the Banks:
The Guidelines are to be implemented in full by all banks before the 01st July 2009.
The Guidelines have been prepared to provide the minimum security and safety standards for all banks. It is expected, where applicable, that all banks will exceed these requirements and adopt internal standards and specifications dependant upon their structure and organisational needs.
The sections within the Guidelines have been designed to work in unison with each other and a clear understanding of its entire content is required.
The appointment of identified and capable personnel is to be undertaken to ensure the implementation of the Guidelines and its compliance.
All sections within the Guidelines are to be adhered to in full and will include the implementation of any subsequent amendments sent by SAMA.