International Financial Products and Services Recent Developments in Saudi Arabia

Analysis

I. Brief Overview of Financial Products and Services Regulation in Saudi Arabia

The offering, marketing, management, and similar activities related to financial products and services in Saudi Arabia are regulated primarily by two governmental bodies: 1) the Saudi Arabian Monetary Agency (SAMA); and 2) the Capital Market Authority (CMA).

SAMA is charged with, inter alia, supervising, regulating, and licensing (as necessary) all finance companies, banks and banking related activities, and insurance companies and insurance related activities in the Kingdom.