As an exception to the provisions of the previous Article, the licenses or authorizations previously issued to the persons carrying on banking business in the Kingdom and are effective at the time of promulgation of this Law shall continue to be recognized.

SAMA may, however, request such documents and information from these persons, as it may deem necessary. SAMA with the approval of the Council of Ministers may call upon them to comply with all or any of the provisions of Article 3 of this Law within such period as it may fix.