Record Retention Guidelines
| No: 381000092226 | Date(g): 27/5/2017 | Date(h): 2/9/1438 | Status: Modified |
Translated Document
Referring to the Royal Decree No. 32749 dated 16/7/1438 H, which states in paragraph (1) that "SAMA shall take the necessary measures to inform banks that they must retain records and documents for a minimum of ten years, and that records should be stored electronically through secure and highly reliable storage means, in coordination with the Ministry of Communications and Information Technology."
Accordingly, SAMA emphasizes to all banks operating in the Kingdom the necessity of complying with what was mentioned in the Royal Decree, and more detailed information will be provided later after coordination with the Ministry of Communications and Information Technology in this regard. *
*Please refer to the instructions on documentation and record keeping issued under circular No. (391000045986) dated 21/10/1439 H.