Exit Plan
| Date(g): 24/2/2020 | Date(h): 1/7/1441 | Status: In-Force |
An applicant is required to provide an exit plan in case of difficulties in achieving the targeted business objectives.
The exit plan should be clearly articulated to provide SAMA with the steps that will be taken to manage customer funds and ongoing businesses. This could include, for example, the migration of bank accounts and associated funds to another bank, ensuring continued services to the existing customers, and management of other assets and liabilities.