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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.
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(a)
The conditions for accepting or executing Payment Services Orders that set out in a contract between the Payment Service User and the Payment Service Provider have not been met;
(b)
The Payment Service Provider has grounds to suspect that the Payment Transaction to which the Payment Services Order relates is fraudulent or poses a money-laundering or terrorism-financing risk; or
(c)
The Payment Transaction to which the Payment Services Order relates would breach any of the Payment Service Provider’s obligations under applicable Laws, regulations and decisions.
(2)
When a Payment Services Order is refused, the Payment Service Provider must notify the Payment Service User in a timely manner of the refusal and provide objectively justifiable reasons for the refusal, as well as details on how to rectify the problem, and the refused payment service must resume once the grounds for refusal have been resolved or terminated.
(3)
A Payment Service User may not be charged for a refused transaction, except where such charge is stipulated in its contract with the Payment Service Provider.