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.
Effective from Dec 10 2020 - Jun 15 2021 To view other versions open the versions tab on the right
The competent authority may not amend any of the following rights and liabilities:
1.
Deposits, as determined by the competent authority.
2.
Insurance policies.
3.
Guaranteed liabilities, except where the value of the guarantee exceeds the value of the liability.
4.
Client assets and funds, as determined by the competent authority.
5.
Consignments.
6.
Any liability due in less than seven days, except for liabilities owed to an institution within the same financial group.
7.
Any due liability resulting from subscription to settlement systems.
8.
Dues of employees of the SIFI under resolution, except for performance bonuses.
9.
Liabilities arising from the import of goods and services essential to the daily operations of the SIFI under resolution, including e-services, utility bills, rent, maintenance services, and the like, except for liabilities owed to institutions within the same financial group.
10.
Zakat and social security dues.
11.
Resolution funds dues.
12.
Rights and liabilities which the competent authority considers, when implementing the amendment of rights procedure, important to be excluded entirely or partially from the amendment, to establish financial stability, ensure continuity of the critical activities of the SIFI under resolution, or maintain the value of such liabilities, if the amendment thereof would affect the rights of other creditors more than the exclusion thereof from amendment.
