The Saudi Arabian Monetary Authority "SAMA" announces that it has issued a policy document for reporting violations of financial institutions operating in the Kingdom.

                SAMA indicated that this document aims to define the minimum controls needed to receive and process reports, so that it would be easy for employees of financial institutions and stakeholders to report violations without having any negative impact on their behavior.

                The issuance of this policy by SAMA comes in an effort to create secure communication channels between the informant and the higher management in financial institutions for any violations committed, or to be committed with the aim of combating fraud, embezzlement and corruption cases of financial institutions. Note that the policy document for reporting violations of financial institutions can be found at the following link:

http://www.sama.gov.sa/ar-sa/Laws/Pages/BankingRulesAndRegulations.aspx