Saudi Arabian Monetary Authority (SAMA) Cyber security framework was introduced due to the growing serious cyber-attacks, and because the financial sector will be the most harmed if any cyber-attacks occurs, this framework was established and must be adopted by all finical sector’s companies.
Cyber Security Framework
Who does it apply to?
• All Banks operating in Saudi Arabia;
• All Insurance and/or Reinsurance Companies operating in Saudi Arabia;
• All Financing Companies operating in Saudi Arabia;
• All Credit Bureaus operating In Saudi Arabia;
• The Financial Market Infrastructure
The Framework is applicable for all domains in the banking sector.
What does it consist of?
Saudi Arabian Monetary Authority (SAMA) Cyber security framework establishes the policies and guidelines to implement, control, monitor, and improve cybersecurity.
The framework of Saudi Arabian Monetary Authority (SAMA) Cyber security framework will take into consideration the:
- Electrical information
- Paper-based information
- Databases and web applications
- Information technology hardware
- Information technologies infrastructure
There are 4 main domains in Saudi Arabian Monetary Authority (SAMA) Cyber security framework:
- Cyber security Leadership & Governance
- Cyber security Risk Management & Compliance
- Cyber security Operation & Technology
- Third-Party Cyber Security
How long does it take to implement the CRF in an organization?
It depends on the size of the organization, the field in which it operates, the number of employees, the state of the current policies implemented. Some organizations can roll out the Saudi Arabian Monetary Authority (SAMA) Cyber security framework in a few weeks, others may require months or years. If you are interested in implementing Saudi Arabian Monetary Authority (SAMA) Cyber security framework in your organization, contact us to schedule a gap analysis audit and get a better assessment of the lead time and the costs.
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