Financial Sector Assessment Program Update : Saudi Arabia - Basel Core Principles for Effective Banking Supervision

This assessment of Saudi Arabian Monetary Agency's (SAMA) compliance with the basel committee's core principles for effective banking supervision was conducted by a mission to Saudi Arabia during April 9-20, 2011. The assessment was carried out as part of a Financial Sector Assessment Program (FSAP) update undertaken by the International Monetary Fund (IMF) and the World Bank at the request of the Saudi authorities. The authorities requested that the assessment of compliance be conducted using only the essential criteria in the methodology. This assessment was based on a review of laws, regulations, policies and practices in place at the time. The financial system is subject to risks reflecting the openness of the economy and dependence on the hydrocarbon sector, as well as the size of the market. Saudi Arabia implements International Financial Reporting Standards (IFRS) for banks and insurance companies and is served by the major accounting firms. There has been no need to provide emergency liquidity assistance (ELA) to any bank in recent years. The conditions in which SAMA will provide ELA would be determined on a case-by-case basis, as will the terms on which such ELA will be provided.

Bibliographic Details

Main Authors:	International Monetary Fund, World Bank
Language:	English en_US
Published:	World Bank, Washington, DC 2011-09
Subjects:	ACCOUNTABILITY, ACCOUNTING, ACCOUNTING PRINCIPLES, AFFILIATED COMPANIES, AFFILIATES, AMOUNT OF RISK, ANTI-MONEY LAUNDERING, APPROVAL PROCESS, ARREARS, ASSET CLASS, ASSET QUALITY, AUDIT COMMITTEE, AUDITING, AUDITORS, AUTONOMY, BALANCE SHEET, BANK ASSET, BANK ASSETS, BANK BRANCHES, BANK MANAGEMENT, BANK OFFICIALS, BANKING ASSETS, BANKING INDUSTRY, BANKING LAW, BANKING LAW REFORM, BANKING LAWS, BANKING REGULATION, BANKING SECTOR, BANKING SUPERVISION, BANKING SYSTEM, BANKRUPTCY, BANKS, BID, BORROWER, BUSINESS PLAN, BUSINESS PLANS, BUSINESS STRATEGY, CAPITAL ADEQUACY, CAPITAL ADEQUACY RATIOS, CAPITAL BASE, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL PLANNING, CAPITAL REQUIREMENT, CAPITAL REQUIREMENTS, CAPITALIZATION, CASH RESERVES, CENTRAL BANKS, CENTRAL GOVERNMENTS, COLLATERAL, COLLATERAL REGIME, COLLATERAL REMAINS, COMMERCIAL BANKS, CONFLICT OF INTEREST, CONFLICTS OF INTEREST, CONSOLIDATED SUPERVISION, CONTINGENCY PLANNING, CORPORATE CREDIT RISK, CORPORATE GOVERNANCE, COUNTRY RISK, COUNTRY RISKS, CREDIBILITY, CREDIT APPROVAL, CREDIT BUREAU, CREDIT FACILITIES, CREDIT GROWTH, CREDIT LOSSES, CREDIT POLICIES, CREDIT PROCESSES, CREDIT REPORTING, CREDIT REPORTING SYSTEM, CREDIT RISK, CREDIT RISK MANAGEMENT, CREDIT SQUEEZE, CREDITS, CREDITWORTHINESS, CRITERIA FOR INVESTMENTS, CROSS-BORDER BANKING, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT LIABILITIES, DEPOSITOR, DEPOSITS, DERIVATIVE, DERIVATIVES, DISCLOSURE REQUIREMENTS, DOMESTIC BANKS, EMPLOYMENT, EMPLOYMENT OPPORTUNITIES, ENFORCEMENT PROCEDURES, EXTERNAL AUDITORS, FACILITATION, FAMILY BUSINESS, FAMILY RELATIONSHIPS, FINANCE COMPANIES, FINANCIAL CRISIS, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTIONS, FINANCIAL SECTOR ASSESSMENT, FINANCIAL SERVICES, FINANCIAL STABILITY, FINANCIAL STATEMENTS, FINANCIAL STRENGTH, FINANCIAL SUPPORT, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FOREIGN BANK, FOREIGN BANKS, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE TRANSACTIONS, GOOD FAITH, GUARANTOR, HEDGE FUND, HOLDING, HOLDINGS, HOUSING, HOUSING LOANS, INFORMATION SHARING, INFORMATION SYSTEM, INFORMATION TECHNOLOGY, INSTALLMENT, INSTALLMENT SALES, INSURANCE, INSURANCE COMPANIES, INTEREST RATE, INTEREST RATE RISK, INTERNAL AUDIT, INTERNAL AUDITS, INTERNAL CONTROLS, INTERNATIONAL BANK, INTERNATIONAL BANKS, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL INVESTORS, INTERNATIONAL LENDING, INTERNATIONAL STANDARDS, INVESTMENT ACTIVITIES, INVESTMENT PORTFOLIOS, LAWS, LEGAL AUTHORITY, LEGAL BARRIERS, LEGAL CULTURES, LEGAL FRAMEWORK, LEGAL PROTECTION, LEGAL PROVISIONS, LEGAL REQUIREMENTS, LEGAL SYSTEMS, LEGISLATION, LENDERS, LENDING EXPOSURES, LEVEL OF RISK, LEVEL PLAYING FIELD, LINES OF CREDIT, LIQUID ASSET, LIQUID ASSETS, LIQUIDITY, LIQUIDITY ASSISTANCE, LIQUIDITY MANAGEMENT, LIQUIDITY RISK, LOAN, LOAN CLASSIFICATION, LOAN PORTFOLIO, LOAN PORTFOLIOS, MARKET RISK, MARKET RISKS, MARKET SHARE, MARKET SHARES, MARKET STRUCTURE, MINIMUM CAPITAL REQUIREMENT, MONETARY FUND, MORTGAGE, MORTGAGE LOANS, NEW ENTRANTS, NONPERFORMING LOAN, NPL, OFF BALANCE SHEET, OPERATIONAL INDEPENDENCE, OPERATIONAL RISK, OWNERSHIP STRUCTURE, POLICY RESPONSE, PROFITABILITY, PRUDENTIAL REGULATION, PRUDENTIAL REQUIREMENTS, PRUDENTIAL STANDARDS, REAL ESTATE, REAL ESTATE COLLATERAL, REGULATORY FRAMEWORK, REPAYMENT, REPAYMENT DIFFICULTIES, RETAINED EARNINGS, RETURN, RETURN ON ASSETS, RETURN ON EQUITY, RETURNS, RISK EVALUATION, RISK EXPOSURES, RISK MANAGEMENT, RISK MANAGEMENT STRATEGIES, RISK MANAGEMENT SYSTEMS, RISK PROFILE, RISK PROFILES, SECURITIES, SHARE OF ASSETS, SHAREHOLDER, SHAREHOLDERS, SOLVENCY, SUBSIDIARIES, SUPERVISION OF BANKS, SUPERVISORY AUTHORITIES, SUPERVISORY AUTHORITY, SUPERVISORY FRAMEWORK, SUPERVISORY POWERS, TERRORISM, TIER 1 CAPITAL, TRADING, TRANSACTION, TRANSFER RISK, TRANSFER RISKS, TRANSPARENCY, UNSECURED LOANS, VAR MODELS,
Online Access:	http://documents.worldbank.org/curated/en/2011/09/18170274/saudi-arabia-basel-core-principles-effective-banking-supervision-detailed-assessment-observance https://hdl.handle.net/10986/15972
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