The Saudi Central Bank “SAMA” announced the launch of the draft “Executive Regulations for the System for Handling Important Financial Institutions” to request public views from interested and specialists, through the “Istikla” platform of the National Competitiveness Center.
This list comes; Based on the objectives of the Central Bank of Saudi Arabia and its roles in maintaining monetary stability, supporting the stability of the financial sector and enhancing confidence in it, in addition to supporting economic growth, and based on the terms of reference of the Central Bank in supervising and controlling financial institutions under its supervision, issuing relevant regulations and instructions, as well as setting Precautionary policies and their management, and taking the necessary procedures and measures to confront local, regional and global economic and financial disturbances and crises.
The Central Bank of Saudi Arabia prepared the draft regulation based on its authority contained in Article (37) of the System for Handling Important Financial Institutions issued by Royal Decree No. (M / 38) dated 4/25/1442 AH, which also included that the regulation be issued by a decision of the Council of Ministers.
Views and observations will be received on the draft “Executive Regulations of the System for Handling Important Financial Institutions” over a period of (30) days, so that the comments and comments will be studied after the end of the specified deadline. for the purpose of adopting its final version. The draft regulation can be viewed by visiting the “Istikla” platform of the National Competitiveness Center via Link.