Saudi Arabia

SAMA Requires Shops to Install Cameras in Order to Qualify for Insurance

Security cameras must be installed in shops for issuing or renewing insurance policies, according to the Saudi Arabian Monetary Authority (SAMA).

In a directive to insurance companies, Hisham Ahmed Tashkendi, General Manager, SAMA Insurance Supervision Section, stressed the need for establishments to adhere to this condition. “SAMA will take legal action against companies that do not comply with the directive,” he said.

Tashkandi said the new directive stems from SAMA’s supervisory role in the insurance sector that aims to improve precautionary measures taken at insured stores, facilitate the settlement of claims, and help deter theft attempts and other criminal acts.