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Effective from Jan 31 2025 - Aug 23 2008 To view other versions open the versions tab on the right
SAMA:
To ensure the effective implementation of the Security and Safety Guidelines the following responsibilities are to be undertaken by Saudi Central Bank:
1.
The Guidelines are to be implemented in full by all banks before the 01st July 2009.
2.
The Guidelines are to supersede the previous version and any associated amendments, circulars and memos.
3.
All matters regarding the Security and Safety of the banks will be coordinated through SAMA. All correspondences, responses and requirements from external organisations, agencies and ministerial departments will be reviewed, assessed and forwarded as formal amendments to all banks.
4.
Amendments and updates to the Guidelines will be provided by SAMA electronically and/or hardcopy as applicable.
5.
Regular audits of the Guidelines will be carried out by SAMA or its nominated external consultants to ensure compliance and implementation by the banks.
6.
Annual audits of the Guidelines will be conducted to ensure the accuracy and validity of its content. The audits will be conducted internally or by its nominated external consultants.
BANKS:
To ensure the effective implementation of the Security and Safety Guidelines the following responsibilities are to be undertaken by the Banks:
1.
The Guidelines are to be implemented in full by all banks before the 01st July 2009.
2.
The Guidelines have been prepared to provide the minimum security and safety standards for all banks. It is expected, where applicable, that all banks will exceed these requirements and adopt internal standards and specifications dependent upon their structure and organisational needs.
3.
The sections within the Guidelines have been designed to work in unison with each other and a clear understanding of its entire content is required.
4.
The appointment of identified and capable personnel is to be undertaken to ensure the implementation of the Guidelines and its compliance.
5.
All sections within the Guidelines are to be adhered to in full and will include the implementation of any subsequent amendments sent by SAMA.
