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The framework aims to manage cybersecurity risks in Saudi Arabia’s financial institutions. It’s divided into 4 areas - core, operational, technical, strategic, and tactical, each focusing on a particular threat intelligence aspect, from basics to technical intelligence application.
We at Quantumbastions simplify the process of becoming compliant with SAMA regulations with our expert-led assistance and solutions. After carefully understanding your challenges, processes, and security measures, we offer tailored services to meet the unique needs of your business. This enables you to ensure clear financial reporting standards, meet compliance, and improve security.
SAMA (Saudi Arabian Monetary Authority) Compliance refers to the adherence to the cybersecurity framework and regulatory standards established by SAMA for financial institutions operating in the Kingdom of Saudi Arabia. These standards are part of the broader initiative to strengthen the cybersecurity posture of the financial sector, ensuring the protection of sensitive data, critical infrastructure, and digital operations.
The SAMA Cybersecurity Framework, introduced in 2017 and regularly updated, provides a structured approach for banks, insurance companies, finance companies, and other regulated entities to develop, implement, and continuously improve their information security programs. The framework is aligned with international best practices and includes key domains such as governance, risk management, cyber resilience, and third-party security.
Achieving SAMA Compliance involves:
Risk-Based Approach: Identifying and mitigating cybersecurity risks through a structured risk management process tailored to the organization’s context.
Cybersecurity Governance: Establishing strong leadership and accountability for information security at the board and executive levels.
Security Controls: Implementing technical and organizational controls such as access management, network protection, incident detection and response,
and encryption.
Third-Party Risk Management: Ensuring that vendors and partners meet the same security requirements, minimizing supply chain risks.
Business Continuity and Disaster Recovery: Preparing for disruptions through robust continuity planning and crisis response capabilities.
Cybersecurity Awareness and Training: Promoting a culture of security awareness across all levels of the organization.
Compliance with SAMA's framework is mandatory for regulated entities and requires regular audits, assessments, and reporting. Non-compliance can lead to penalties, reputational damage, or even operational restrictions.
SAMA Compliance not only helps financial institutions protect against evolving cyber threats but also enhances trust with customers, partners, and regulators by demonstrating a commitment to high standards of cybersecurity and governance.