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Article [106]

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 significant payment system operator shall conduct a self-assessment to test the extent of its compliance with the Principles for Financial Market Infrastructure at least once a year or when there is any fundamental change in the operating systems or based on a request from the SAMA.
  2. The payment system operator shall enable the SAMA to access its payment system and all relevant information and data and shall cooperate with the SAMA when conducting the evaluation process for the payment system, in accordance with the authority of the SAMA under the Law.
  3. The significant payment system operator shall, after obtaining a letter of no objection from the SAMA, publicly disclose its answers to the self-assessment summary of the Principles for Financial Market Infrastructures, in line with the CPMI-IOSCO Disclosure Framework for Financial Market Infrastructures.
  4. The unclassified payment system operator shall periodically conduct a self-assessment to test its compliance with the Principles for Financial Market Infrastructures, as agreed with the SAMA under its license, or as determined by the SAMA.