Article 5
| No: 000044093096 | Date(g): 13/6/2023 | Date(h): 24/11/1444 | Status: In-Force |
Effective from Jun 13 2023 - Jun 12 2023
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SAMA may approve or reject a licensing application as a Relevant Payment Service Provider or Payment System Operator, taking into account the following:
| (1) | Whether the activities and services are consistent with the objectives of the Law and the Implementing Regulation; |
| (2) | Whether the activities and services are consistent with the consumer protection and competition objectives set out in the Law and the Implementing Regulation; |
| (3) | The economic value resulting from providing the activities in the Kingdom and the impact of these activities on financial stability in the Kingdom; |
| (4) | SAMA assessment of the Applicant’s ability to satisfy the requirements of the Law and the Implementing Regulation; and |
| (5) | Whether there are factors that might hinder SAMA’s ability to oversee the applicant effectively. |