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SAMA's Non-Objection to Appointing or Changing the Unit Head
No: 43037826
Date(g): 1/12/2021 | Date(h): 26/4/1443
Status: In-Force
Translated Document
34-
Taking into account the Requirements for Appointing to Senior Positions in financial institutions under the supervision of SAMA, and the Key Principles of Governance in Financial Institutions issued by SAMA; the bank must obtain SAMA’s prior non-objection to the appointment, assignment, or extension of the term of the head of the unit. Additionally, the bank must obtain SAMA’s prior non-objection if the head of the unit leaves their position (resignation, transfer to another role, termination of service, etc.), with documentation and explanation of the reason for the change.
