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08-01-23
Capital Market Authority agrees on adjusted prudential guidelines for Saudi Arabia
(MENAFN) KSA’s Capital Market Authority has inked off on additional regulations targeted at drawing additional funds into the Nation’s economy.
The major alterations involve informing the prudential desires for carrying out any securities business, including credit, market, operational as well as concentration dangers.
There are also adjustments to the methodology utilized to analyze the lowest limit of capital adequacy, as well as alterations to the needs for funding management, planning, as well as advisory actions to be based on expenses.
The Amended Prudential Rules are going to come into action on the 1st of April this year.
As mentioned in a report released by SPA: “Amending the Prudential Rules comes as part of the CMA's keenness, since its inception, on continuously regulating and developing the entities, subject to the CMA's control, which carry out any of the securities business, enhancing the control procedures and prudential level of such entities, in addition to raising the efficiency of the resources management of such institutions to provide optimum services to their customers in accordance with the best international practices.”
MENAFN08012023000045014228ID1105397382
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