Kingdom of Saudi Arabia – Saudi Arabian Monetary Authority

Kingdom of Saudi Arabia – Saudi Arabian Monetary Authority – Compliance Manual for Banks Working in Saudi Arabia – 2008. Covering:

Introduction

Chapter 1 – Concepts

Chapter 2 – Compliance Principles

Part (A): – Responsibilities of the Board of Directors regarding Compliance

Principle (1): The Board of Directors’ Responsibilities

Part (B): Responsibilities of Senior Management regarding Compliance

Principle (2): Senior Management’s responsibilities

Principle (3): Senior Management – Leading by Example

Principle (4): Senior Management’s Support of the Compliance Function (Department)

Part (C): Principles of the Compliance Department

Principle (5): Independence

Principle (6): Resources

Principle (7): Compliance Function Responsibilities

Principle (8): Businesses and Functions not falling under the responsibility of the Compliance Function

Part (D): Cross-border activities

Principle (9): Practice activities outside Saudi Arabia

Part (E): Outsourcing

Principle (10): Outsourcing of compliance functions

Chapter 3 – Framework of the Compliance Manual

Appendix (1): Rules of the Manual of Compliance Work Committee

Appendix (2): Dates and Time Schedule for Implementing the requirements of the Compliance Manual