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2.1. Introduction

Effective from Sep 24 2019 - Dec 31 2019
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11.These regulatory requirements are relevant to all Foreign Bank Branches (FBBs) in respect of their operations in the Kingdom of Saudi Arabia (KSA). It sets out SAMA’s requirements for the internal governance and risk management of the FBBs and how they should comply with these regulations. These regulations cover the following areas:
 
 i.General requirements;
 
 ii.Senior Management Function & Responsibilities;
 
 iii.Segregation of Functions;
 
 iv.Compliance and Internal Audit;
 
 v.Risk Management and Control;
 
 vi.Outsourcing; and
 
 vii.Record keeping and Retention Requirements.