Saudi Arabia: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision

July 19, 2013

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Format: Chicago

Saudi Arabia: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2013) accessed December 21, 2024

Summary

This paper focuses on Saudi Arabia’s Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision. The banking sector is fairly concentrated around a few banks. The seven largest banks have a combined share of assets of 85 percent. The three largest banks have a combined share of about 45 percent, and the next four each have market shares exceeding 5 percent. The dominant shareholders of the three largest banks are government entities, the fourth largest is linked to a family business group, and the next three have ties to major international banks. Saudi Arabia implements International Financial Reporting Standards for banks, and insurance companies, and is served by the major accounting firms.

Subject: Bank supervision, Banking, Capital adequacy requirements, Credit risk, Financial regulation and supervision, Internal controls, Legal support in revenue administration, Market risk, Revenue administration

Keywords: Bank supervision, Banking group, CR, Credit risk, Global, Guideline document, Internal audit, Internal controls, ISCR, Legal support in revenue administration, Market risk, Risk management, Risk profile, Sama circular, Sama official, Sama practice, Saudi bank

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/213
Stock No:

1SAUEA2013002
ISBN:

9781484385982
ISSN:

1934-7685

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