Article 21 of the Saudi Central Bank Law

This article sets out what the Central Bank attends to in its external contact with two categories:

• Similar foreign regulatory and supervisory bodies.
• Relevant international organizations.

In this contact the Bank attends to two things:

1. Developing relations and strengthening communication, through:
   • Coordinating and exchanging visits.
   • Holding and attending meetings and working sessions.
2. Following the reports and information that those bodies and organizations issue.

This article is organizational in nature; it does not create rights or obligations for individuals, but describes an aspect of the Bank's work in its external relations. The article does not name the bodies or organizations.

This article complements the preceding Article 20, which allows the Bank to enter bilateral or collective agreements on monetary, regulatory or supervisory policies, conclude agreements with central banks, foreign supervisory bodies and international organizations in accordance with the lawful procedures, and cooperate with counterpart bodies to exchange information and supervisory visits. Article 20 sets out what agreements and cooperation the Bank may enter into, and this article sets out what it attends to in day-to-day contact with those bodies.

It is followed by Article 22, which regulates the Bank's contracts and procurement, allowing them to be concluded in Arabic or another language, and excluding its procurement from the Government Tenders and Procurement Law.