SAMA Collaborates With Taqeem For Public Input On Financial Institutions' Valuation Rules

The Saudi Central Bank (SAMA) has announced its initiative to engage in public consultation regarding the draft Rules for the Valuation of Systemically Important Financial Institutions. This move is part of a collaborative effort with the Saudi Authority of Accredited Valuers (Taqeem) to establish a comprehensive framework aimed at governing the valuation processes necessary for the execution of resolution plans concerning financial institutions identified by SAMA as Systemically Important. This initiative is in line with the Law of Systemically Important Financial Institutions, which was enacted by Royal Decree No. M/38 on December 10, 2020.

The formulation of these draft rules is a testament to SAMA's commitment to aligning with both the regulatory framework within the Kingdom and internationally recognized standards and practices. The primary objective behind these rules is to safeguard the Saudi financial system and the national economy against potential threats that could compromise the stability of the financial sector.

In an effort to ensure transparency and inclusivity, SAMA has extended an invitation to all stakeholders, including members of the public, to contribute their suggestions and observations regarding the draft rules. Interested parties are encouraged to submit their feedback through the Public Consultation Platform "Istitlaa" within a 15-day window from the date of this announcement. This step underscores SAMA's dedication to incorporating diverse perspectives before finalizing the rules.

The initiative reflects SAMA's proactive approach in enhancing financial stability and resilience against systemic risks, thereby ensuring the long-term sustainability of the Kingdom's economic landscape.