Security Solutions
Compliance as a Service
SAMA Compliance
Improve information security and safeguard corporate processes with SAMA (Saudi Arabian Monetary Authority) compliance, governed by the Saudi Central Bank.
The Saudi Arabian Monetary Authority (SAMA) serves as the primary regulatory and supervisory body for the banking sector in Saudi Arabia. The SAMA institution oversees and controls the legal aspects, procedures, and information security approaches of all banking institutions and financial firms in the area. SAMA implemented the Cyber Security Framework a few years ago to provide financial businesses with standardised protocols, advanced cybersecurity practices, and methodologies to establish strong cyber resilience within their organisation. This framework aims to protect databases, workloads, assets, and information flows, including sensitive digital data, from all types of emerging cyber threats.
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The expected value of the cybersecurity market in the Middle East is $23.4 billion by 2028.
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The field of Cloud Computing is expected to undergo substantial expansion in its efforts to prevent cyber threats.
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205 organisations in the MEA region had their information stolen and subsequently surfaced on ransomware data leak sites.
Why is it important for financial institutions to comply with the SAMA (Saudi Arabian Monetary Authority) Cybersecurity Framework?
DEFENCE AGAINST EMETGING CYBER ATTACK AND THREAT
The reserve bank regularly updates and revises security rules to ensure that banks and other financial service providers stay current with new regulatory guidelines and are well-equipped to handle emerging threats.
ENSURE ADHERENCE TO LEGAL REQUIREMENT AND STAY CURRENT WITH THE LATEST UPDATES
The SAMA compliance evaluation conducted by the Saudi Central Bank offers a comprehensive and systematic approach that can be easily replicated. The entire procedure may be readily documented, and there are abundant online resources available to assist. There is no need for you to constantly create something completely new. It is simple and significantly reduces the amount of time and effort required.
IMPROVE CORPORATE IMAGE
Undoubtedly, SAMA compliance sets one apart from others. In the current era of intense competition, it is exceedingly challenging to differentiate your brand. In addition to improving security through comprehensive gap analysis, it also communicates a strong commitment to protecting client privacy. This specifically aids organisations in the financial services sector to enhance their brand reputation.
ENGANCED DATA GOVERNANCE
The majority of financial services providers prioritise adherence to risk management and compliance. The SAMA compliance certification empowers organisations to perform a comprehensive internal audit and establish a more effective and quantifiable information security strategy. This provides optimal safeguarding for classified and sensitive client data.
Bizionic provides comprehensive managed compliance and
compliance-as-a-service solutions.
IRAP
Based on Australian security laws and standards, the Information Security Registered Assessors Program (IRAP) provides a comprehensive framework for assessing, analyzing, and evaluating the effectiveness of an organization's cybersecurity measures. The Australian Signals Directorate (ASD) monitors this.
BANK NEGARA
Bank Negara Malaysia (BNM) oversees a significant regulatory framework and rules that specifically address operations in the banking, financial services, and insurance (BFSI) sectors.
THE CENTRAL BANK OF OMAN
The Central Bank of Oman has implemented regulations that apply to all functions in the banking, financial services, and insurance (BFSI) sector, as well as banking institutions in Oman.
SAMA
The Saudi Arabian Monetary Authority has implemented a centralized cybersecurity framework and protocols to provide guidance to firms in all industries on how to successfully safeguard their operations, assets, and data.
FINMA
The Swiss Financial Market Supervisory Authority provides regulations and frameworks to oversee banks, financial institutions, insurance companies, stock exchanges, securities dealers, and other entities.
UAE COMPLIANCE
The United Arab Emirates has implemented comprehensive legislation covering data residency, privacy, and other aspects of company operations, ensuring compliance on a wider scale.
GDPR
The General Data Protection Regulation (GDPR) is a comprehensive set of legislation that governs the acquisition and use of personal data by persons who are European Union residents.
PCI-DSS
The Payment Card Industry Data Security Standard establishes guidelines and standards to guarantee that all businesses involved in taking, storing, and processing credit card information maintain a highly secure environment.
HIP-AA
The Health Insurance Portability and Accountability Act establishes standards and protocols to guarantee the confidentiality, protection, and accuracy of sensitive patient data. Healthcare firms obtain the HITRUST (Health Information Trust Alliance) accreditation as evidence of their compliance with HIPAA regulations.
ISO STANDARDS
Compliance requirements for operations in the banking, financial services, and insurance (BFSI) sector, as well as for financial institutions, pertain to matters such as security, operational management, and data administration. The Reserve Bank of India, the leading banking institution in the country, provides these compliance requirements.
MAS
The Monetary Body of Singapore, which is the country's central body for banking, financial services, and insurance, has established guidelines for financial institutions outsourcing operations and procedures.
OJK
The Financial Services Authority of Indonesia (Otoritas Jasa Keuangan) issues and oversees the regulations governing the management and operations of financial institutions.
RBI
Compliance requirements for operations in the banking, financial services, and insurance (BFSI) sector, as well as for financial institutions, pertain to matters such as security, operational management, and data administration. The Reserve Bank of India, the leading banking institution in the country, provides these compliance requirements.
GXP
The GXP compliance standard is an abbreviation for regulatory criteria and recommendations that are applicable to many industries, such as life sciences, food, and medical items. The 'X' in GXP represents any letter that is relevant to a certain industry. Examples of these practices are good laboratory practices (GLP), good clinical practices (GCP), and good manufacturing practices (GMP).
An Impact with Difference:
Why Partner with Bizionic for
Enterprise Cybersecurity Transformation?
One of the top managed cybersecurity firms and the biggest application-focused managed cloud services provider in the world.
Pre-met standards for local, national, and international compliance, such as ISO, CSA, GDPR, HIPAA, SAMA, IRAP, and GXP certifications.
Seven Frameworks for Security Making use of CIS Critical Security Controls, MITRE ATT&CK, and other.
Extensive round-the-clock cybersecurity surveillance program.
Advanced Managed Detection and Response Solutions (MDR) are automated security solutions for threat prediction, detection, and response.
International proficiency in solutions and services for managed Security Operations Centers (SOCs). environments by integrating security and operations teams.
A portfolio devoted to DevSecOps.
Comprehensive end-to-end IT and cloud stack cybersecurity consulting, assessment, and audit reporting services.
The Cybersecurity Incident and Response Team (CSIRT) for Advanced Bizionic Solutions.
Significant experience in threat management in securing large and complex environments.
Comprehensive expertise in publicly managed cloud security services: AWS, Azure, GCP, and Oracle Cloud.