The Saudi Arabian Monetary Authority (SAMA) has issued the final clearance regulation and associated guarantee arrangements for financial institutions under its supervision in the Kingdom of Saudi Arabia. The purpose of this regulation is to organize clearance agreements and financial guarantee arrangements related to one or more qualified financial contracts entered into by at least one party subject to SAMA’s supervision, ensuring the enforcement of these contracts outside of bankruptcy proceedings.
The issuance of the final clearance regulation and associated guarantee arrangements is part of SAMA’s efforts to establish a solid regulatory framework in line with the Kingdom’s legal framework, relevant international standards, and practices, and to localize the operations of local and international financial institutions in derivatives markets and financial exchange contracts. This contributes to strengthening risk management effectiveness and supporting the safety and stability of the financial sector.
The final clearance regulation and associated guarantee arrangements apply to financial institutions under the supervision of SAMA from the date of publication. They can be accessed by visiting the Rules Handbook platform on SAMA’s official website at www.sama.gov.sa.
