The Saudi Central Bank (SAMA) has updated its website to include the soft launch of its Rulebook, together with a newly added Licensing Guidelines section.
This is a significant development for financial institutions and applicants operating in the Kingdom, as it provides greater clarity on regulatory expectations and licensing procedures.
The Key Highlights Include:
- Rulebook Access: The Rulebook consolidates regulatory requirements into an accessible platform, offering a central reference point for firms engaging with SAMA.
- Licensing Guidelines Tab: This section details the licensing requirements under applicable laws and regulations, supported by practical checklists for specific license categories.
- Checklists and Process Mapping: The checklists specify:
o Required submissions (documents and forms).
o Relevant departments and authorities to which submissions must be made.
o Guidance that extends beyond minimum statutory obligations, helping applicants avoid delays caused by incomplete or misaligned filings.
The enhanced guidance reduces ambiguity in dealing with licensing procedures, particularly relevant for banks, fintechs, payment service providers, finance companies, and insurance operators seeking approvals.
By setting expectations that exceed the baseline legal requirements, SAMA is aligning with global regulatory best practice while also promoting smoother applicant interaction with the regulator.
This development is expected to support the Kingdom’s broader goals of transparency, efficiency, and growth in the financial services sector.
To access the Rulebook and Licensing Guidelines, visit: SAMA Rulebook.
For further guidance or to discuss the implications of the rulebook, contact Ghazal Tarabzouni.