Saudi Central Bank seeks public feedback on draft supply chain finance rules

The Saudi Central Bank, or SAMA, has published draft regulations concerning supply chain finance for public review on the Istithlaa platform. SAMA, through its National Competitiveness Center, is soliciting input from industry experts and interested parties via the consulting phase of the initiative. This move underscores SAMA's regulatory oversight over the financial sector, which is a key part of its duties.

Additionally, it aligns with SAMA's ongoing strategies to bolster the financial sector, ensure its stability, and bolster the efficiency and adaptability of financial transactions in commercial markets, while also fostering innovation in financial services. The proposed rules are designed to set standards and procedures for supply chain finance and the intermediation within this sector, thereby fostering its expansion in Saudi Arabia.

Commentaries and suggestions on the draft regulations will be collected for a 30-day period, following which they will be examined to finalize the rules. The draft regulations are accessible for review on the National Competitiveness Center's Istithlaa platform.