Attachment 5.7: IRB Recognition Process
Effective from Jun 12 2006 - Dec 31 2007
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| Banks submits IRB recognition request to SAMA | |
| Pre-examination meeting between bank and SAMA (Self –assessment questionnaires given to bank) | |
| Completion of self-assessment by bank | |
| Review of self-assessment by SAMA | |
| SAMA conducts on-site examination on bank | |
| SAMA issues examination report, including decision on whether to allow bank to use IRB Approach | |
| SAMA follows up implementation of recommendations in examination report, and monitors performance of bank‘s systems. | |