Central Bank'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
Effective from 2022-01-01 - Dec 31 2021
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| 34- | Taking into account the requirements for appointing senior positions in financial institutions under the supervision of the Central Bank, and the main principles of governance in financial institutions issued by the Central Bank; the bank must obtain the Central Bank’s prior non-objection to the appointment, assignment, or extension of the term of the head of the unit. Additionally, the bank must obtain the Central Bank’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. |