Outsourcing Forms - March 2021
| No: 2103110195 | Date(g): 10/3/2021 | Date(h): 27/7/1442 | Status: In-Force |
Translated Document
Further to the SAMA's instructions on Rules on Outsourcing, issued under Circular No. 41027017 dated 18/04/1441H, and in an effort to unify and streamline the requirements that must be attached when submitting non-objection requests for outsourcing tasks to a third party, and in light of observations regarding non-compliance in some requests with SAMA's instructions, including those related to outsourcing tasks to a third party, as well as instructions from other relevant regulatory authorities, and the lack of required documents in some requests:
We would like to emphasize the following:
- Banks must exercise due diligence to ensure that the request complies with all SAMA’s instructions, particularly the instructions on outsourcing tasks to a third party, as well as the instructions of other relevant regulatory authorities.
- Attach the Third-Party Task Delegation Form (after completing it) provided above and submit it in PDF/Word format as part of the outsourcing request.
- Fulfill all requirements and attach all documents as specified in the provided form.
Additionally, we stress the importance of completing all the information, documents, and requirements outlined in the attached form to facilitate the processing of the request.
For your information and action accordingly as of this date.