Article 101
| 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
To view other versions open the versions tab on the right
SAMA has the authority to classify the payment system as a significant payment system or as potentially becoming a significant payment system, based on the following criteria:
| A. | In the event that the payment system may pose any disruption that poses risks to financial stability in the Kingdom or has the potential to cause or transmit any disruption to other payment systems, given the size and importance of the payment system and its connection to the financial sector and the lack of alternative payment systems. | ||
| B. | Evaluate the extent to which the payment system is associated with the infrastructure of financial markets, whether inside or outside the Kingdom, including settlement and clearing systems. | ||
| C. | Estimate the total value, average value or volume of transfer orders that were transferred, cleared or settled during the payment system’s working day and the nature of those orders. | ||
| D. | Estimate the number of direct and indirect members in the payment system. | ||