Based on the role of the Saudi Arabian Monetary Authority to supervise and control the financial institutions under its supervision and to implement the principle of transparency; SAMA confirms to the public that it has followed up on the procedures and decisions that have been taken by the board of directors of the Saudi-fransi bank to address a number of deficiencies in the application of sound governance, control policies and their applications. SAMA affirms that during the last period it has followed this issue closely with the bank's board of directors and will implement all appropriate regulatory procedures. The bank shall verify the sufficiency and fairness of corrective actions taken by the board of directors.

                SAMA calls on the financial institutions under its supervision to adhere to the regulations and instructions, and to implement sound and effective governance.