SAMA Calls for Public Feedback on Draft Internal Audit and Compliance Principles for Finance Companies

KSA, 27 May, 2024 : The Saudi Central Bank (SAMA) is inviting public consultation on draft versions of "Internal Audit Principles" and "Compliance Principles" for Finance Companies. Stakeholders and the public are encouraged to share their suggestions and observations on these drafts via SAMA's Public Consultation Platform, "Istitlaa."

Aligned with international best practices, these principles aim to establish a robust regulatory framework, defining the roles of key functions within finance companies and outlining the responsibilities of the board of directors and executive management.

Feedback on the drafts will be accepted for 30 days from the date of announcement. The drafts are accessible on the Public Consultation Platform, in collaboration with the National Competitiveness Center.

Source : www.sama.gov.sa