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Attachment 5.7: IRB Recognition Process

No: BCS 290 Date(g): 12/6/2006 | Date(h): 16/5/1427 Status: No longer applicable

Effective from Jan 01 2008 - 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.