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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

SAMA to Begin Implementation of Basel III Reforms in Early 2023

SAMA BCBs Kingdom
Officials tour the factory for the manufacture of point-of-sale devices. (Asharq Al-Awsat)

The Saudi Central Bank (SAMA) announced on Wednesday that the Basel III reforms would come into force in the Kingdom’s banking sector in January 2023.

“The move is in line with the internationally agreed timeline set by the Basel Committee on Banking Supervision,” SAMA said in a press statement.

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