Cover IMF Staff Country Reports
Buy Book in Print
Saudi Arabia: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
Author:
International Monetary Fund. Monetary and Capital Markets Department
Search for other papers by International Monetary Fund. Monetary and Capital Markets Department in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 213
Language:
English
Publication Date:
19 Jul 2013
DOI:
https://doi.org/10.5089/9781484385982.002
ISBN:
9781484385982
ISSN:
1934-7685
Pages:
42
Keywords:
ISCR; CR; risk management; risk profile; Sama circular; Saudi bank; banking group; internal audit; guideline document; Sama official; Sama practice; Credit risk; Bank supervision; Legal support in revenue administration; Internal controls; Market risk; Global
Download PDF (2.6 MB) Download Epub
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.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund