5. Effective Date
Effective from 2008-08-24 - Aug 23 2008
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| With this Circular is attached the final version of the Saudi Central Bank Security and Safety Guidelines which supersede the previous guidelines and all memorandums and circulars issued prior to this date. The effective date for the implementation of these requirements is (Date). | |
| To ensure regulatory compliance of the implementation of the new requirements, Saudi Central Bank and the Joint Security Committee will carry out site visits to the banks using appointed representatives. The failure by a bank to meet the requirements and standards could lead to penalties prescribed under the Banking Control Law. |