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 |
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Effective from 2018-11-21 - Nov 20 2018
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Referring to the periodic supervisory data provided to the Central Bank by finance companies, which play a crucial role in the Central Bank'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. The Central Bank 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, the Central Bank emphasizes that finance companies must obtain the Central Bank's no objection before providing governmental and non-governmental entities with supervisory data that is submitted to the Central Bank periodically, as well as unpublished statistical data.