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Article 29

No: M/38 Date(g): 10/12/2020 | Date(h): 25/4/1442

Effective from Jun 16 2021 - Jun 15 2021
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Subject to relevant international agreements and conventions to which the Kingdom is party, the competent authority may apply resolution procedures to any foreign branch of a foreign financial institution, even if the relevant foreign regulatory authority does not apply any resolution procedure to the parent institution.