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2. Objective

No: 45021335 Date(g): 14/10/2023 | Date(h): 30/3/1445 Status: In-Force

Effective from Jan 01 2024 - Dec 31 2023
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The objective of this document is to introduce additional set of prudential requirements on the Capital Requirements for Credit Risk and Market Risk for Shari’ah Compliant banking, which are to be read alongside the applicable SAMA’s Basel framework issued via circular no. 44047144 dated 04-06-1444AH (28 December 2022) and any subsequent updates. These additional requirements are issued to ensure risks associated with Islamic banking products and contracts are appropriately captured through the capital adequacy framework.