The Saudi Central Bank (SAMA) announces the issuance of the “Compliance Principles" and “Internal Audit Principles" for Finance and Real Estate Refinance Companies as part of its role in supervising and regulating the Finance and Real Estate Refinance Companies. This decision reflects SAMA's continuous efforts to support the financial sector's stability and development.

These principles set a more comprehensive regulatory framework to define Finance and Real Estate Refinance Companies' main functions and outline the responsibilities of the board of directors and the executive management regarding compliance and internal audit functions. These principles were developed in accordance with the best standards, taking into consideration the size and business nature of such companies.

SAMA had previously published the draft of the “Compliance Principles" and “Internal Audit Principles" for Finance and Real Estate Refinance Companies, seeking comments and feedback from the public and experts for transparency and public participation. These comments and feedback were studied for their appropriateness in the final version of the text. To view the principles, visit SAMA's website at (link).