SAMA Introduces Compliance and Internal Audit Principles for Finance Companies

KSA, 07 October, 2024 : The Saudi Central Bank (SAMA) has introduced "Compliance" and "Internal Audit" principles for Finance and Real Estate Refinance Companies. These guidelines aim to strengthen supervision and regulation within the financial sector, promoting stability and growth.

The principles outline the responsibilities of the board of directors and executive management, ensuring that compliance and internal audit functions are aligned with best practices. SAMA's initiative follows public consultation on the draft version, incorporating expert feedback. The full principles can be viewed on SAMA's website.

Source : www.sama.gov.sa