Based on the supervisory role of the Saudi Arabian monetary authority (sama) and in view of the remarkable growth in the volume of financing and investment related to banking products and services that are in compliance with the provisions and principles of sharia; SAMA has worked on developing a supervisory framework for the banks that practice Islamic banking activities in the kingdom.

                SAMA clarified in a statement that the first stage of the project was the issuance of the "sharia governance framework" aimed at setting a minimum for governance practices related to practicing Islamic banking. The sharia governance framework also included defining the roles and responsibilities of the board of directors, the executive management, the sharia committee, and the internal control departments, in addition to a number of other aspects regarding adherence to the provisions and principles of sharia. Noting that it is possible to view extensively on the Sharia governance framework for local banks operating in the Kingdom, by visiting the institution's website via (link).