Principle 9: Outsourcing
| No: 44006639 | Date(g): 23/8/2022 | Date(h): 26/1/1444 | Status: In-Force |
When outsourcing services that involve dealing with consumers, the financial institution must ensure that outsourced service providers comply with the requirements of these Principles and Rules (where applicable), serve the interests of consumers, and bear the responsibility for protecting them. Financial institutions are not exempted from responsibility if the outsourced service provider fails to comply with applicable laws, regulations and instructions in any of the assigned operations or tasks as stipulated in the relevant instructions issued by SAMA.