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Effective from May 01 2022 - Apr 30 2022 To view other versions open the versions tab on the right
Risk Management Framework for Shari'ah Compliant Banking shall be applicable to the following institutions:
i.
All locally incorporated Banks that are licensed and operating in the Kingdom of Saudi Arabia and are conducting Shari'ah compliant Banking.
ii.
Where a locally incorporated Bank has 2 majority owned subsidiary(ies) licensed and operating outside Saudi Arabia and/or has branch operations in any foreign jurisdiction that conduct Shari'ah compliant Banking shall follow these rules provided that there is no inconsistency with the legal and regulatory requirements of host country.
