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RIYADH — The Saudi Central Bank (SAMA) has issued a press release announcing that it is seeking public consultation on draft amendments to the “key principles of governance in financial institutions under the control and supervision of the Saudi Central Bank”.
SAMA invites stakeholders to provide suggestions and observations on the draft by visiting the Public Consultation Platform of the National Competitiveness Center.
According to the release, key principles were amended with aim of keeping abreast of the latest regulatory changes and updates in the new Companies Law and its Implementing Regulations that impact the key principles, taking into consideration the nature of the financial sector in the Kingdom and international standards and practices.
SAMA said suggestions and observations on the draft will be received within 15 days of this announcement and their relevance will be assessed before finalizing the draft. — SPA
