Banking Regulations: All Saudi Banks Are Basel III Compliant

“All Saudi banks are Basel III compliant, and have been so for many months already of the official deadline. We were probably the first country in the world to have all of its banks Basel III compliant,” says Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.

“As a listed bank, as a listed company, we deal with both SAMA – the Saudi Arabian Monetary Agency – and CMA, the Capital Markets Authority. I would say that both of them are highly professional and highly reputable regulators who are governed in accordance with international best practices, in many areas they are ahead of their regional and international peers. Both SAMA and the CMA are at the forefront of all the regulatory developments and provide strong support to the Saudi banking sector.”