Book traversal links for 1.1 Introduction
1.1 Introduction
No: 41033343 | Date(g): 6/1/2020 | Date(h): 11/5/1441 |
Effective from Jul 01 2020 - Jun 30 2020
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In exercise of the powers vested upon Saudi Arabian Monetary Authority (SAMA) under the charter issued by the Royal Decree no. 23 on 23-05-1377AH (15 December 1957G) and the Banking Control Law promulgated by Royal Decree no. M/5 dated 22/2/1386AH. SAMA is hereby issuing the enclosed Rules on the Management of Problem Loans aimed to develop the practices followed by banks while dealing with loans showing signs of stress along with the loans already specified as non-performing.
These rules should be read in conjunction with SAMA rules on Credit Risk Classification and Provisioning.
Also, SAMA issued the Guidelines on Management of Problem Loans as good practices to support banks in implementing these Rules.