1. Introduction
Effective from 2022-02-09 - Feb 08 2022
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These Rules are issued by Saudi Central Bank (SAMA) in exercise of the powers vested upon it under its Law issued by the Royal Decree No. M/36 dated 11/04/1442H, and the Banking Control Law issued by the Royal Decree No. M/5 dated 22/02/1386H and the Rules for enforcing its Provisions issued by Ministerial Decision No. 3/2149 dated 14/10/1406H.
These Rules shall supersede the previous instructions issued by SAMA related to the role and participation of banks in IPOs in connection to Circular No. 38399/MAF/588 dated 12/11/1426H and No. MAF/337 dated 8/11/1425H and 333/MA/200 dated 22/8/1413H, and the circular on the general rules regulating underwriting transactions by Saudi joint stock companies, with an emphasis on compliance with these rules in line with the rules, instructions and other regulatory requirements issued whether by SAMA or other legislative authorities, where applicable.