Understanding the SAMA Cybersecurity Framework (CSF): A Practical Guide for Banks & Fintechs

Today, cybersecurity is a business priority. In Saudi Arabia, the Saudi Arabian Monetary Authority (SAMA) has introduced the Cybersecurity Framework (CSF) to safeguard the Kingdom’s financial sector.

For banks, fintech startups, and other regulated entities, compliance with the CSF is not optional — it is essential for trust, resilience, and long-term success.

What is the SAMA Cybersecurity Framework?

The SAMA CSF is a comprehensive set of controls designed to help financial institutions:

• Establish a consistent and robust cybersecurity posture

• Protect critical financial and customer data

• Ensure resilience against attacks, fraud, and disruptions

• Align with national initiatives such as Vision 2030 and NCA guidelines

It is mandatory for all banks, insurance companies, finance firms, and payment service providers regulated by SAMA.

The Five Core Domains of the CSF

The framework is structured into five domains, each with objectives and controls:

1. Cybersecurity Governance
   Defines policies, roles, and leadership commitment to cybersecurity.

2. Risk Management & Compliance
   Identifies, assesses, and manages risks while ensuring alignment with regulations.

3. Operations & Technology
   Covers monitoring, detection, incident response, and safeguards such as encryption and secure configurations.

4. Third-Party & Outsourcing Security
   Manages risks from vendors, suppliers, and cloud providers, ensuring contracts enforce security standards.

5. Resilience & Recovery
   Focuses on business continuity, disaster recovery, and rapid response to incidents.

Why Compliance Matters

• Regulatory Requirement – Non-compliance may result in penalties, sanctions, or restrictions.

• Trust & Reputation – Demonstrates to customers and partners a commitment to security.

• Resilience Against Attacks – Strengthens defences against ransomware, phishing, and fraud.

• Alignment with Vision 2030 – Cybersecurity is critical to building a secure digital economy and investor confidence.

Steps to Implement SAMA CSF Successfully

1. Conduct a Gap Assessment – Identify weaknesses by mapping current controls against CSF requirements.

2. Develop a Roadmap – Prioritise quick wins, then build long-term improvements.

3. Establish Strong Governance – Form a steering committee and report progress to executives.

4. Invest in Training & Awareness – Empower employees as the first line of defence.

5. Engage Experts – Work with consultants or auditors for independent assessments and compliance validation.

Common Challenges in CSF Compliance

• Resource Limitations – Smaller fintechs may lack dedicated security teams.

• Complex Vendor Ecosystems – Outsourced IT and cloud providers add risk.

• Evolving Threats – Cyber risks change faster than static controls.

• Documentation Burden – Auditors require evidence of compliance, not just policies.

Practical Tips for Banks & Fintechs

• Start with critical assets: payment systems, customer data, online banking.

• Use automated monitoring and compliance dashboards.

• Regularly run penetration tests and red teaming exercises.

• Align with international standards (ISO 27001, NIST CSF) while tailoring to SAMA specifics.

Conclusion

The SAMA Cybersecurity Framework is more than a compliance checklist — it is a blueprint for building trust and resilience in Saudi Arabia’s financial sector.

For banks, fintechs, and regulated entities, CSF compliance should be seen not as a burden but as an opportunity: an opportunity to strengthen defences, inspire customer confidence, and align with the Kingdom’s digital transformation journey.

By starting with structured assessments, embedding governance, and fostering a culture of security, organisations can achieve both regulatory alignment and long-term cyber resilience.