The Saudi Arabian Monetary Authority (SAMA), in cooperation with the Islamic Financial Services Council, held a training workshop entitled (Facilitating the application of the standards of the Islamic Financial Services Council) under the patronage of His Excellency the Deputy Governor for Research and International Affairs Fahad ben Abdullah Al Dossary, on Monday 5/4 / 1441H corresponding to 2019/12/2. This comes as part of a series of workshops sponsored by SAMA aimed at building competencies in Islamic finance locally and internationally and promote Kingdom's pioneer status in this industry where the Islamic banking in Saudi Arabia represents about 20.2% of the assets of the Islamic banking industry globally.  SAMA is a founding member of the Islamic Financial Services Board, which is responsible for issuing prudential standards for Islamic financial institutions (banks, takaful and capital markets).

The workshop held for four days with the participation of approximately thirty employees of SAMA in addition to the participation of a number of employees of the Gulf and Arab central banks. The workshop aims to discuss the Islamic Financial Services Board standards related to the banking sector such as the standard of capital adequacy requirements and risk management, and the basic Islamic banking principles of control related to investment accounts in the Islamic banks. Additionally, it reviews the guidelines issued by the Islamic Financial Services Board regarding investment accounts in Islamic banks and the mechanism to promote and protect the rights of the holders of these accounts.

The workshop included a number of practical applications related to the standards of the Islamic Financial Services Board and the most prominent international practices in this context, which will contribute to a deeper understanding of the participants. The workshop will enhance participants' understanding of Islamic banking standards and guidelines and exchange experiences among Gulf and Arab central banks involved in the implementation of the IFSB standards.

SAMA's partnership with international organizations such as the World Bank and the Islamic Financial Services Board is aimed at joint research and capacity building in Islamic finance.​