Banking Control Law

Release Date:	1386-02-22
Release Tool:	Royal Decree
Issuance Instrument Number:	m/5
Validity:	Valid
Date of last amendment:	1442-04-11
Summary:	By AI The text pertains to the draft Law on Bank Supervision in the Kingdom of Saudi Arabia, presented by the Minister of Finance after reviewing the recommendations of the Regulatory Committee. The law defines terms such as "national bank" and "foreign bank," and requires foreign banks to obtain a license according to specific criteria. It mandates banks to maintain a certain percentage of deposits as reserves and specifies their financial obligations, with the necessity of obtaining the Minister of ...

Release Date:

1386-02-22

Release Tool:

Royal Decree

Issuance Instrument Number:

m/5

Validity:

Valid

Date of last amendment:

1442-04-11

Summary:

By AI

The text pertains to the draft Law on Bank Supervision in the Kingdom of Saudi Arabia, presented by the Minister of Finance after reviewing the recommendations of the Regulatory Committee. The law defines terms such as "national bank" and "foreign bank," and requires foreign banks to obtain a license according to specific criteria. It mandates banks to maintain a certain percentage of deposits as reserves and specifies their financial obligations, with the necessity of obtaining the Minister of ...