Investigating IT Governance Practice and Its Application, Benefits, and Administrative Implications in the Banking Sector, Saudi Arabia

Governance is one of the most effective tools to stimulate investments because it encourages the growth of financial markets. IT governance is a fundamental part of corporate governance. It helps achieve many advantages and benefits for companies. This study aims to examine the level of IT governance practice and its application, benefits, and administrative implications in the private banking sector in Saudi Arabia. To achieve the research objective, the inductive and deductive research approaches are employed to address the questions and collect the data. A 5-point Likert scale questionnaire was administered to three categories of employees in the selected Saudi banks. The findings revealed that IT governance contributed to creating a competitive advantage and adding real value to the banks through improving their reputation, increasing the market share, and enhancing customer satisfaction, which resulted in an improvement in the value of the banks. However, it is recommended that the rules of control and the principles of IT governance are considered in the future policies of Saudi banks, their mission, structures, and decision-making.