Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Operational Risk
The risk of loss due to internal processes, systems, people, or external events, including fraud, errors, and disruptions, which can affect the organization's operations and financial stability.
Internal Auditing
A process that helps achieve an organization's objectives by adopting a systematic approach to evaluating and improving the effectiveness to governance, risk management, and compliance processes.
Economic Flexibility
An economy’s ability to adapt to external changes, such as technological advancements or market shifts.
Bidding Stage
Determining the current stage of the competition in terms of the procedures that have been completed.
Central Counterparty (CCP)
A central counterparty authorized in carrying out Securities Clearing activities in the Kingdom in accordance with the Capital Market Law and the Securities Central Counterparties Regulations.
Fiduciary Responsibility
A legal obligation where one party (like a financial advisor) must act in the best interests of another (like a client), prioritizing their financial well-being.
Economic Diversification Paths
Different strategies that economies adopt to achieve a more balanced and resilient structure.
Service Level
Agreed-upon standards or performance indicators that define the quality and responsiveness of a service.
Supportive Private Sector Participation (PSP) Projects
include the proposed Private Sector Participation (PSP) Projects that, when implemented, would achieve part of the PSP Plan objectives and the failure to do so, would not compromise the PSP Plan objectives.
Recovery Rate
The percentage of the initial investment that is expected to be recovered by investors in the event of a default. It's an important consideration when assessing credit risk.
Average Cost
The total cost of production of a commodity incurred by a firm during a period divided by the number of its units of output.
Benchmarking
The process of measuring the performance of products, services, or enterprise operations compared to other organizations in the same field.
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