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Technology and Cybersecurity Risks

Effective from Feb 24 2020 - Feb 23 2020
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1.Applicant should consider Information systems security, resilience and availability, being key components of a Digital-only Bank. The selection of appropriate technologies and security arrangements should be aligned to the proposed banking products and services.
 
2.SAMA requires compliance with all relevant requirements, such as (but not limited to) SAMA’s Cybersecurity Framework and BCM Framework. In addition, SAMA requires applicants to consider other relevant regulations, (e.g. from National Cybersecurity Authority) when designing and implementing the Technology and Cybersecurity framework of the proposed Digital-Only Bank.