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.
Upon approval of the application and prior to the issuance of the License, the Applicant shall pay SAMA the License issuance fee pursuant to Article 7 of the Law, which corresponds with the type of License being applied for, as follows:
(a)
Twenty thousand Saudi Riyals (SAR 20,000) for a Micro PI License;
(b)
Fifty thousand Saudi Riyals (SAR 50,000) for a Major PI License;
(c)
Twenty thousand Saudi Riyals (SAR 20,000) for a Micro EMI License;
(d)
Fifty thousand Saudi Riyals (SAR 50,000) for a Major EMI License;
(e)
Twenty thousand Saudi Riyals (SAR 20,000) for a Payment Initiation Services License; and
(f)
Twenty thousand Saudi Riyals (SAR 20,000) for a Payment Account Information Services License.
(2)
In the event of an amendment of a License further to Article 20 of the Implementing Regulation, a Licensee will be subject to re-evaluation and the License issuance date will be amended in such circumstances.
(3)
SAMA may review and adjust the fees mentioned in Paragraph (1) of this as it deems appropriate.
(4)
SAMA determines License issuance and renewal fees applicable to Payment System Operators on a discretionary basis, commensurate with the size as well as the nature of and complexity of the Payment System Operator and the complexity of relevant operations.
