Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
The AFAQ Service CC will perform the following main functions:
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Receive payment messages from the Sending RPG,
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Validate the message format and content,
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Perform the accounting entries over the shadow accounts of sending and receiving NCBs, and the Primary Accounts of Direct Participants in the case of countries using the CSM,
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Transmit the payment message to the Receiving RPG, or, to the Direct Participants in the case of countries using the CSM,
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Process Payment Completion Confirmation messages from the Receiving RPG, match them with the previously sent payment messages and transmit the Completion Confirmation to the Sending RsPG, or, to the Direct Participants in the case of countries using the CSM,
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Process payment rejections and returns,
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Maintain the Direct Participants directory,
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Maintain FX Exchange Rates for cross-currency conversion and end-of-day Settlement,
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Maintain the Business Day Timetable and Calendar,
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Provide enquiry services to NCBs, and to the Direct Participants in the case of countries using the CSM,
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Produce and transmit MT950 Shadow Account statements at end-of-day, and
