Country Manuals Private Banking
SAUDI ARABIA OUT OF BANK’S COUNTRY OF ESTABLISHMENT (Def, RS, BT & RT)
Regulatory Summary & Regulatory Template
Both the RS and RT have been amended following a change of approach by the Saudi supervisory authority with respect to banking services. In particular, changes have been made in order to reflect the circumstance that now the activities relating to banking activities, undertaken via remote means of communication into Saudi Arabia upon request, must occur, amongst others, on a strict and discreet one-to-one basis.
In light of the foregoing, several sections (i.e. prospecting, negotiation, offering additional services, e-banking) have been adapted accordingly.
Behaviour Template
The answers contained in the Behaviour Template has been modified in line with the answers provided in the Regulatory Template.
BT Short Comparison
BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “SAUDI ARABIA” in the Target Country Field.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.