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Approval of IFRS 17 amendments

No: GDIC-202200000240-022H

Effective from Feb 23 2022 - Feb 22 2022
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Approval of IFRS 17 amendments

 

Dear CEO,

Dear CCO,

Greetings,

In reference to the Central Bank’s “SAMA” supervisory responsibility over the insurance sector in the Kingdom, which includes ensuring compliance with international accounting standards issued by the International Accounting Standards Board (IASB).

We inform you that the amendment to IFRS 17 "Insurance Contracts", has been approved by the Saudi Organization for Chartered and Professional Accountant. The amendment can be viewed through the website of the Saudi Organization for Auditors and Accountants.

To be informed.

Kind Regards,

General Department of Insurance Control

Distribution to:

-Insurance and reinsurance companies