Al Rajhi Bank received the (ISO/DIS 37301:2020) certification in compliance, issued by the Global Quality Network (GQNET) in the United Kingdom, one of the most reputable global certification providers, which is considered an extension of the (ISO 19600:2014) certification issued by the international network in Germany; a non-governmental and non-profit association, considered as one of the leading, most credible and reliable certification entities.
International certificates are important to reach world-class compliance as the bank has become an internationally acclaimed banking entity when it comes to the quality of procedures in compliance management risks. The bank has also become one of the first financial institutions in the region to receive this certificate, thanks to its readiness and continuous development in overseeing business procedures and in meeting the regulatory requirements and international best practices in the field of compliance management and its risks.
This achievement will shape an important role in controlling the risk management process and reducing the risks of non-compliance as the bank seeks to achieve its strategic goals for the year 2020 at the highest quality, in line with the Saudi Vision 2030. The latter is a new step towards becoming the “Bank of the Future” and one of the most important pillars to serve beneficiaries through compliance management. It is also a step in the right direction with regards to building banking and financial work with an aim to avoid risks that reflect the bank’s progress in compliance and to enhance its position and reputation in the region.