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Article 94

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 ensure the protection of protected funds throughout the period of their retention in accordance with the provisions of the Regulations, whether when receiving them directly or through any of its agents or an electronic money distributor.
  2. No person other than the payment service provider may have any interest or right in the protected funds.
  3. Without prejudice to the relevant regulations, the payment service provider shall return the protected funds to the payment service users, in the event of bankruptcy, cessation or any other liquidation of the payment service provider.