Capital regulation via Istilaal platform
Saudi Arabia has focused on developing the business environment and regulating the economic sector through the launch of the "Istijlaa" platform, which enables public participation and government agencies to discuss new project regulations and laws. Among the proposed initiatives is the regulation of capital based on the risk level, aiming to link capital requirements to the nature of the risks faced by insurance companies, enhance their ability to measure and manage risks, and maintain their financial solvency. The project also includes an amendment to the cooperative insurance companies monitoring regulations to improve capital requirements. Additionally, there is a proposal to regulate family funds to support the growth of the non-profit sector, with provisions allowing the community to establish more funds. The consultation periods end on October 10, 2026, as part of efforts to promote transparency and participation in economic legislation, focusing on improving the legislative environment and aligning it with the kingdom’s economic and developmental developments.
Notice: This Is an AI-Generated Summary
Comments (0)