Article [70]

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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	1.	The payment service provider shall have a risk-based policy that explains the limits of the payment service user’s transaction and the limits of the total outstanding electronic money.
	2.	The payment service provider shall, before making any change to the policy - referred to in the foregoing paragraph - obtain a non-objection from the SAMA in accordance with the provisions of Article [39] of the Regulations and provide details of the updated policy if the SAMA requests so.
	3.	The SAMA may direct the payment service provider to set the limits of payment service user’s transactions at the levels to be determined thereby, in the event - for example - of non-compliance with certain regulatory standards or requirements in relation to risk management or governance, as the SAMA deems appropriate.