Compliance

  • Print Print

 

SABB AML-CTF Compliance Policy Statement

The Saudi British Bank (SABB), a joint stock Company registered in the Kingdom of Saudi Arabia, is required to act in accordance with all laws, rules and regulations, directives issued by the Saudi Arabian Monetary Agency - SAMA, Capital Market Authority - CMA, Rules governing Anti-Money Laundering & Combating Terrorist Financing and comply with all FATF Recommendations recognized as the global AML-CTF standards and revised in Feb 2012. 

The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz Al-Saud has signed the revised AML – CTF Law during April 2012, and its implementing rules further strengthens the AML controls in the country and applies stringent action against any perpetrators and the financial institutions which fail to prevent illegal transactions.

Individual Customer Information (FATCA)

FATCA is a new Tax legislation to help counter tax evasion in the USA. SAMA have requested the Banks to comply with FATCA effective 1st of July 2014. For all your tax-related questions please contact your tax consultant, SABB is not able to provide any tax advice.

CRS - Common Reporting standard

The SABB International Standards are the values and standard

We encourage staff members to be open to different ideas, be dependable, stay connected with customers and the community and work together as a team. As a result, we ensure fair treatment of customers, data confidentiality and compliance with laws and regulations.