Referring to SAMA's role in supervising and overseeing the payments sector, and its contribution to maintaining the integrity of the financial sector while ensuring that financial institutions adhere to Know Your Customer (KYC) principles, and referencing Article 12-2 (A-3) of the Payment Services Providers Regulations, which grants payment service providers the authority to refuse payment orders in specific circumstances, including when the payment transaction constitutes a violation of any obligations of the payment service provider under the applicable laws and regulations..

We would like to emphasize the importance of payment companies' role in verifying the regulatory status of the clients to whom they provide payment services by validating the authenticity of official identification documents. This should be incorporated into the service provision policies and agreements, reflecting the commitment of payment companies to the relevant regulatory requirements. This includes, but is not limited to, requiring the contracting party to inform the payment company of any changes in their regulatory status.

Accordingly, we attach the lists of entities with cancelled commercial registrations for the purpose of reassessing the appropriate actions regarding them and taking the necessary steps.

For your information and action accordingly, we also hope to receive confirmation of the receipt of all segmented lists via four separate emails.