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Prudential and Supervisory Requirements

Date(g): 24/2/2020 | Date(h): 1/7/1441 Status: In-Force

Effective from Feb 24 2020 - Feb 23 2020
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1.Digital-only Banks will be subject to the same set of prudential requirements as with other banks.
 
2.In addition, due to the nature of business operations, all (or most) of the data are expected to be in an electronic format. The design of technology solutions in a Digital-only Bank should allow for easy and quick access to complete and accurate information needed for SAMA to perform its supervisory duties.