SAMA – Saudi Arabian Monetary Authority
February 22, 2018
Seid Yassin (559 articles)
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SAMA – Saudi Arabian Monetary Authority

In May 2017, the Saudi Arabian Monetary Authority released its Cyber Security Framework to guide organizations in the region on how to best deal with cyber security threats.

The adoption and implementation of the Framework is a vital step for ensuring that Saudi Arabian
Banking, Insurance and Financing Companies sectors can manage and withstand cyber security threats.

In designing the Framework, we have considered the ways that our regulated entities are leveraging
technology and felt that each entity will be able to adopt a common approach for addressing cyber
security. This will ensure cyber security risks are properly managed throughout the sectors.

The objective of the Framework is as follows:
1. To create a common approach for addressing cyber security within the Member Organizations.
2. To achieve an appropriate maturity level of cyber security controls within the Member Organizations.
3. To ensure cyber security risks are properly managed throughout the Member Organizations.
The Framework will be used to periodically assess the maturity level and evaluate the effectiveness of the
cyber security controls at Member Organizations, and to compare these with other Member
Organizations.
The Framework is based on the SAMA requirements and industry cyber security standards, such as NIST,
ISF, ISO, BASEL and PCI.

Source | sama.gov.sa