SAMA seeks opinion on systemically important financial institutions draft law

The Saudi Central Bank (SAMA) is seeking public consultation on the draft implementing regulation of the Systemically Important Financial Institutions Law.

The central bank has invited stakeholders and the public to send their suggestions and observations on the draft by visiting the public xonsultation platform at the National Competitiveness Center.

The implementing regulation supports SAMA in fulfilling its mandate to maintain monetary stability, support financial stability, and promote economic growth.

The central bank developed the implementing regulation in accordance with its competence stipulated in Article (37) of Systemically Important Financial Institutions Law issued by Royal Decree No. (M/38) dated 25/4/1442H.

The implementing regulations of the Law shall be issued pursuant to a Council of Ministers resolution.