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    SAMA Publishes Requirements for Senior Position Appointments

    October 13, 2019

    SAMA issued the second version of requirements for appointments to senior positions in financial institutions it supervises. The requirements aim to help identify the senior positions in the financial institutions that require written non-objection of SAMA on the appointment or interim appointment of candidates. The requirements set out the minimum fit and proper criteria that a financial institution must adopt to assess the fitness and propriety of candidates. These requirements are also intended to set out the minimum fit and proper criteria and the process that financial institutions have to adopt to assess the fitness and propriety of candidates for positions that do not require the non-objection of SAMA. These requirements shall come into effect as of the date of the issuance.

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    Effective Date: Issuance Date

    Keywords: Middle East and Africa, Banking, Insurance, Governance, Appointment Requirements, Operational Risk, SAMA

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