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Article 37

No: 000044093096 Date(g): 13/6/2023 | Date(h): 24/11/1444 Status: In-Force

Translated Document

Effective from Jun 13 2023 - Jun 12 2023
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 1.The licensee shall comply with the data protection regulations in the Kingdom, in addition to the regulations, decisions, instructions and circulars issued by SAMA.
 2.The licensee shall provide protection for the client and consumer data and maintain its confidentiality, including data kept by any third party or agent affiliated with the licensee. Furthermore, he shall grant access to such data only to employees authorized by him and for the purpose of complying with regulatory requirements in the Kingdom, such as reporting suspected money laundering, fraud and other financial crimes.
 3.

Without prejudice to the relevant regulations, the licensee may not disclose client data except in the following cases:

A.Adhere to the requirements of SAMA or the orders of the competent authorities to SAMA inside or outside the Kingdom.
B.Obtain specific written consent from the client prior to disclosure for purposes requiring so.
 4.The licensee shall develop appropriate policies, procedures and controls aimed at protecting client data from any risks regarding data and information security, in addition to providing train to its employees to make them aware thereof.
 5.The licensee shall develop data protection controls in accordance with the decisions issued by SAMA and the competent authorities in the Kingdom in this regard.