Book traversal links for المادة التاسعة والأربعون
Article [49]
Date(g): 13/6/2023 | Date(h): 25/11/1444 | Status: In-Force |
Effective from Jun 13 2023 - Jun 12 2023
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- Subject to the provisions of this Article, a limited network service provider shall register with the SAMA as a limited network service provider as determined by the SAMA.
- The limited network service provider registered with the SAMA shall immediately notify the SAMA if payment transactions through the limited network exceed - or are likely to exceed - a total value of five million riyals during a period of twelve consecutive calendar months or a value of two million riyals in any month during such period.
- The notice to the SAMA shall include a description of the services of the limited network service provider, and the reasons for classifying the relevant transactions as limited network service.
- Notices shall be submitted to the SAMA at the end of the month or at the end of the twelve-month period referred to in Paragraph [2] of this Article or as determined by the SAMA.
- The SAMA has the authority to oblige any person subject to the provisions of this Article to submit an application for a license.