SAMA Approves Insurtech Rules
البنك المركزي السعودي يعتمد قواعد التقنية المالية التأمينية
On 30 July 2023, the Saudi Central Bank (SAMA) approved the Insurtech Rules, following the close of the public comment period on the draft rules via the 'Istitlaa' platform of the National Competitiveness Center. The rules regulate the principles of insurtech business across all its activities, protecting the rights of dealers with insurtech practitioners and encouraging fair competition, and cover matters such as technical-environment obligations, accuracy and safekeeping of customer information, and general business conduct including safeguarding customer rights and oversight and compliance.
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