Maximize information security and ensure complete protection of business processes with SAMA (Saudi Arabian Monetary Authority) compliance regulated by the Saudi Central Bank

The Saudi Arabian Monetary Authority (SAMA) is the central banking organization of Saudi Arabia. SAMA governs and regulates the legalities, processes, and information security strategies of all banking organizations and financial enterprises in the region. Few years back, SAMA introduced the Cyber Security Framework to guide financial businesses with standard protocols, top notch cybersecurity practices, and methodologies to help create sound cyber resilience within the organization’s practices and help preserve the databases, workloads, assets, information flows including sensitive digital data from all emerging cyber threats.

The Framework’s objectives include designing a common cybersecurity management approach for SAMA-affliated finance organizations, help organizations achieve commendable levels of security, and ensure all threats are properly managed with the latest technologies and frameworks. The Framework takes into account SAMA’s requirements and also other top industry cybersecurity standards such as NIST, ISF, ISO, BASEL, and PCI.

The Middle East cybersecurity market size is projected to reach $23.4 billion by 2028

Cloud to Witness Significant Growth for combating cyber threats

In the MEA region, information stolen from 205 companies appeared on ransomware data leak sites

Why Do Financial Institutions Need to Become Compliant with SAMA (Saudi Arabian Monetary Authority) Cybersecurity Framework?

emerging cyber attacks

Protection against Emerging Cyber
Attacks and Threats

Security norms are updated and revised by the reserve bank on a frequent basis to ensure that banks and other financial service providers remain up-to-date with new regulatory guidelines and are better prepared to deal with emerging threats.

legally compliant

Be Legally Compliant and Up to Date

The SAMA compliance assessment by Saudi Central Bank provides an in-depth and step-by-step roadmap that can be easily repeatable. The entire process can be easily documented and there are plenty of online resources which can help. You don’t need to reinvent every time. It is easy and saves a considerable amount of time and effort.

enhance company reputation

Enhance Company Reputation

There is no denying that SAMA compliance is a differentiator. In today’s competitive era, it is very difficult to make your brand stand out. Apart from enhancing security with complete gap analysis, it also sends out a clear message that you value customer’s privacy. This specifically helps organizations providing financial services to bolster brand reputation.

information management

Better Information Management

Adhering to risk and compliance is a top priority for a majority of financial services providers. SAMA compliance certification enables them to conduct a thorough internal audit and set up a better and measurable information security framework. This offers maximum protection to classified and sensitive customer data.

The SAMA Cyber Security Framework Map: Be Compliant End-to-end with Cloud4C

Cybersecurity Leadership and Governance
Cybersecurity Risk Management and Compliance
Cybersecurity Operations and Technology
Third Party Cybersecurity
  • Cybersecurity Governance
  • Cybersecurity Strategy
  • Cybersecurity Policy
  • Cybersecurity Roles and Responsibilities
  • Cybersecurity in Project Management
  • Cybersecurity Awareness
  • Cybersecurity Training
  • Cybersecurity Risk Management
  • Regulatory Compliance
  • Compliance with International Industry Standards
  • Cybersecurity Review
  • Cybersecurity Audit
  • Human Resources
  • Physical Security
  • Asset Management
  • Cybersecurity Architecture
  • Identity and Access Management
  • Application Security
  • Change Management
  • Infra Security
  • Cryptography
  • BYOD
  • Secure Disposal of Information Assets
  • Payment Systems
  • Electronic Banking Services
  • Cybersecurity Event Management
  • Cybersecurity Incident Management
  • Threat Management
  • Vulnerability Management
  • Contract and Vendor Management
  • Outsourcing
  • Cloud Computing

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Cloud4C Full-stack Managed Compliance and Compliance-as-a-Service Offerings

With Cloud4C’s dedicated Compliance-as-a-Service or Managed Compliance offerings, enterprises can augment their IT infra, cloud landscapes, architectures, systems, and applications to be fully compliant with different regulations and standards.

Cloud4C’s global acumen paired with world-class compliance experts and state-of-the-art technologies duly investigate customer landscapes, assess functionalities and workloads to verify whether the same are compliant with the concerned protocol or not, delivering strategies and implementing the necessary procedures to ensure that companies across the globe operate risk-proof. Be it any hyperscaler cloud landscape, on-prem systems, private cloud ecosystems, third-party environments, or remote edge ecosystems, Cloud4C’s managed compliance services cover it all and help organizations be compliance-ready end-to-end

IRAP

Information Security Registered Assessors Program or IRAP concerns a set of security protocols and frameworks to audit, analyze, and measure cybersecurity efficiency of an organization basis Australian security requirements and standards. This is monitored by the Australian Signals Directorate (ASD)

Bank Negara

A major compliance framework and regulations catering to BFSI activities and banking institutions monitored by Bank Negara Malaysia (BNM)

Central Bank of Oman

Regulations certified by Central Bank of Oman catering to all BFSI functions and banking institutions in Oman

SAMA

Centralized cybersecurity framework and processes regulated by Saudi Arabian Monetary Authority to guide organizations across all industries to effectively protect their operations, assets, and data.

FINMA

Regulations and frameworks offered by the Swiss Financial Market Supervisory Authority to supervise banks, financial institutions, insurance companies, stock exchanges, securities dealers, etc.

UAE Compliances

Broader UAE compliances regarding data residency, privacy, and other regulations governing enterprise functions in the United Arab Emirates.

RBI

Compliance regulations for BFSI activities and financial institutions concerning security, operational management, data administration, etc. Delivered by the Reserve Bank of India, the nation’s premier banking organization.

MAS

Guidelines issued by the Monetary Authority of Singapore, the nation’s central BFSI authority on outsourcing operations and processes of financial institutions.

OJK

Regulations issued and monitored by the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan) on the functioning and operations of financial institutions.

GDPR

General Data Protection Regulation is a set of advanced regulations governing the collection and usage of personal data from individuals residing in the European Union.

PCI-DSS

The Payment Cards Industry Data Security Standard sets frameworks and benchmarks to ensure that all enterprises engaging in accepting, storing, processing credit card data maintain a highly secure environment.

HIPAA

Standards and frameworks set by the Health Insurance Portability and Accountability Act to ensure the privacy, security, and integrity of sensitive patient information. The HITRUST (Health Information Trust Alliance) certification is garnered by healthcare companies as proof that they comply with HIPAA standards.

GXP

The GXP compliance standard is an acronym for regulatory requirements and guidelines applicable for the broader life sciences, food, and medical products, etc (The ‘X’ stands for any letter applicable vertical-wise). For instance, Good Laboratory Practices (GLP), Good Clinical Practices (GCP), Good Manufacturing Practices (GMP).

ISO Standards

Introduced by the International Organization for Standardization, these frameworks certify the global standard requirements applicable to any offering or service. The number after an ISO refers to the concerned category: ISO-27001, ISO-27017, ISO-27018, ISO-22301, ISO-20000, etc.

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An Impact with Difference: Why Partner with Cloud4C to become Industry Compliant?

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Pre-met compliance needs for local, national, and global compliance requirements including IRAP, GDPR, HIPAA, SAMA, CSA, GXP, and ISO Certifications

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7 Security frameworks utilizing the MITRE ATT&CK, CIS Critical Security Controls, and more

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Comprehensive 24x7 cybersecurity monitoring program

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Automated Security Solutions for threat prediction, detection, and response: Advanced Managed Detection and Response Solutions (MDR)

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Advanced Cloud4C Cybersecurity Incident and Response (CSIRT) team

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Considerable threat management expertise in securing large and complex environments and using advanced functionalities of leading industry tools as well as Cloud-Native Security tools

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Experience in deploying and managing robust SIEM – helping enterprises to proactively assess vulnerabilities and automate, accelerate incident response

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Comprehensive expertise in public managed cloud security services: AWS, Azure, GCP, Oracle Cloud, IBM Cloud

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