Saudi Central Bank Fines 16 Banks

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(Bloomberg) — Saudi Arabia’s central bank fined 16 financial institutions, including the kingdom’s largest banks, for violating "responsible finance principles. Saudi Central Bank Fines 16 Banks Including Rajhi, Emirates NBD.

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The Saudi Monetary Authority said in a statement the violations were related to exceeding debt burdens imposed on people in proportion to their monthly income. It did not disclose the amount of the fines. Saudi Arabia’s central bank on Sunday fined 16 banks, including dubai-headquartered emirates nbd and some of Kingdom’s largest banks, for.

The Saudi Arabian monetary Authority (SAMA) has imposed fines on 16 banks for non-compliance with financing regulations set on monthly income deductions for retail clients, the Kingdom’s central bank said in a statement. SAMA did not disclose the amount of fines imposed.

Saudi Arabia’s bank regulator imposes fines on 16 institutions for violations Offences relate to payments made by consumers as percentage of their monthly incomes, the central bank says

2018-08-03  · The Central Bank of Nigeria (CBN) has prescribed 26 sanctions, which includes payment of fines against banks that flout the Nigerian Bankers Clearing.

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DUBAI- Saudi Arabia’s central bank said on Sunday it had fined 16 financial institutions for violating principles of responsible finance. The Saudi Monetary Authority said in a statement the violations were related to exceeding debt burdens imposed on people in proportion to their monthly income. It.