International Financial Products and Services Recent Developments in Saudi Arabia
Type
E-journal
Date
15 Jun 2015
Jurisdiction
Saudi Arabia
Taxonomy
General Banking & Finance Law, Regulation & Offences, General Commercial Law
Copyright
LexisNexis
Relevant company
Dentons
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.