National Regulations Committee Holds Two Workshops on “Regulatory Best Practices”

The National Regulations Committee held two workshops titled “Regulatory Best Practices,” attended by around 60 participants from the regulatory departments of the Committee's member entities and the Saudi Central Bank, with the aim of enhancing expertise, practices, and knowledge-sharing among regulatory entities, entrenching the principles of regulatory excellence, and improving the performance and effectiveness of the regulatory environment in the Kingdom.

In the first workshop, held at its headquarters, the Communications, Space and Technology Commission reviewed core and innovative regulatory tools and methods, and its previous launches of the regulatory sandbox for emerging technologies and the regulatory sandbox for delivery applications.

The second workshop, held at the headquarters of the Capital Market Commission, featured a review of a number of topics including an overview of regulatory development, the Commission's fintech lab, as well as a tour of the Saudi Central Bank's fintech lab.

The workshops were held with the participation of the Saudi Central Bank and a number of National Regulations Committee members from “the Water and Electricity Regulatory Commission, the Capital Market Commission, the Communications, Space and Technology Commission, the General Competition Commission, the General Transport Commission, the General Commission for Audiovisual Media, the Saudi Data and Artificial Intelligence Commission, the Zakat, Tax and Customs Commission, and the General Commission for Civil Aviation,” and these workshops are one of the National Regulations Committee's initiatives to transfer knowledge and enhance cooperation among regulatory entities.