The Obligation to Obtain SAMA No Objection Before Providing Governmental and Non Governmental Entities with Information and Supervisory and Statistical Data
| No: 165700000099 | Date(g): 21/11/2018 | Date(h): 13/3/1440 | Status: In-Force |
Translated Document
Effective from 2018-11-21 - Nov 20 2018
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In reference to the periodic supervisory data provided to SAMA by finance companies, which play a crucial role in SAMA's supervisory and regulatory functions to enhance the stability and financial soundness of the finance sector and improve the quality of financial services and products. SAMA is also keen on improving the accuracy of reports and statistical publications by implementing the best measures to verify the accuracy of this data and promoting transparency through its publication across available media.
Therefore, SAMA emphasizes that finance companies must obtain SAMA's no objection before providing governmental and non-governmental entities with supervisory data that is submitted to SAMA periodically, as well as unpublished statistical data.