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2-1-D Outsourcing

No: BCT/15631 Date(g): 2/5/2012 | Date(h): 11/6/1433 Status: In-Force

Regulated Issuers (Refer to The issuing Programme Manager (issuer) 1-2-1) may outsource activities within the KSA to trusted third parties under an outsourced service contract, provided that the regulated issuer assumes the responsibility for all actions undertaken by a third party.

In accordance with the "Rules on Outsourcing", issued by Saudi Central Bank, section 2-3, banks are required to confirm SAMA has "no objection" prior to undertaking any Material Outsourcing.