KSA, February 22, 2024 :The Saudi Central Bank (SAMA) is inviting public consultation on draft rules for the valuation of Systemically Important Financial Institutions. Developed in collaboration with the Saudi Authority of Accredited Valuers (Taqeem), these rules aim to govern the valuation process for institutions designated as Systemically Important by SAMA.
The purpose is to implement resolution plans in accordance with the Law of Systemically Important Financial Institutions, issued by Royal Decree No. (M/38) dated 2020/12/10.
The draft rules align with the Kingdom's regulatory framework and international standards. Stakeholders and the public can provide suggestions and observations through the Public Consultation Platform "Istitlaa" within 15 days from the announcement.
The aim is to finalize the draft and ensure protection for the Saudi financial system and national economy from adverse effects on financial sector stability. The draft is available on the Public Consultation Platform with the National Competitiveness Center.
Related Posts
Real estate has long been one of the most attractive sectors for criminals seeking to disguise illic...
Read More
For years, regulatory enforcement in AML followed a familiar pattern. A bank was found to have weak ...
Read More
For many Corporate Service Providers, customer due diligence is often viewed as the most important s...
Read More