In January 2020, SAMA introduced the Payment Service Provider Regulations ("PSP Regulations"),which requires digital payment providers to secure a license prior to starting any operation. 5 The payment services regulated by SAMA's PSP include direct debits, credit transfers, the execution of payment transactions, acquiring payment transactions, SAMA regulations for finance companies in Saudi Arabia Saudi Arabian Monetary Agency (SAMA) has established a Cyber Security Framework (CSF) to help control the cybersecurity activities of SAMA's financial institutions and prevent cyber threats. By Regulatory News. March 01, 2020. SAMA published additional licensing guidelines and criteria for digital-only banks in Saudi Arabia. These guidelines are applicable to digital-only bank license applications in Saudi Arabia. The guidelines must be considered as additional requirements to be met, along with the Banking Licensing Guidelines and The Saudi Arabian Monetary Authority (SAMA) is the central bank of Saudi Arabia. SAMA introduced its Cyber Security Framework in 2017 in order to guide regional organizations on how to effectively maintain the protection of information assets and online services. The Framework is based on the SAMA requirements and industry cyber security standards, such as NIST, ISF, ISO, BASEL and PCI. The Framework supersedes all previous issued SAMA circulars with regard to cyber security. these regulations, as the case may be, including the following: Principles of conduct and business ethics in financial institutions; Principles of compliance for commercial banks operating in the Kingdom of Saudi Arabia; Requirements for appointment to leadership positions in financial institutions that are under 6Zk6qq7.

sama saudi arabia regulations