Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Effective from Jun 13 2023 - Jun 12 2023 To view other versions open the versions tab on the right
(1)
Before initiating the payment, the Payment Initiation Service Provider must provide clear and comprehensive information to the Payer in the agreed language. Such information must include -as a minimum- the following:
(a)
The name of the Payment Initiation Service Provider;
(b)
The address of the head office of the Payment Initiation Service Provider;
(c)
Where applicable, the address of the head office of the Agent or branch offices through which the Payment Initiation Service Provider delivers services in the Kingdom;
(d)
Contact details relevant to communication with the Payment Initiation Service Provider, including an electronic mail address; and
(e)
The contact details of SAMA.
(2)
The Payment Initiation Service Provider must immediately after the initiation of the Payment Services Order provide to the Payer and the Payee, where applicable, the following:
(a)
Confirmation of the successful initiation of the Payment Services Order with the Payer’s Payment Account Service Provider;
(b)
A reference enabling the Payer and the Payee to identify the Payment Transaction and the Payee to identify the Payer, and any information transferred with the Payment Services Order;
(c)
The amount of the payment transaction.
(d)
Where applicable, the amount of any charges payable to the Payment Initiation Service Provider.
(e)
Provide a Payment Transaction reference to the Payer’s Payment Account Service Provider.
