The text addresses the principles of obligation for banks and commercial financial institutions in the Kingdom of Saudi Arabia, emphasizing the responsibilities of the Board of Directors and senior management in managing compliance risks. This includes the establishment of an independent compliance unit, defining its responsibilities and its relationship with the internal audit unit. The text defines key terms and underscores the importance of the independence of the compliance unit and its reso...
Principles of Obligation for Banks and Commercial Banks Operating in the Kingdom of Saudi Arabia