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Article 107

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
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  1. The significant payment system operator shall ensure the adequacy of financial resources for its business, including assessing the adequacy of capital according to the operating payment systems and the mechanism for the maintenance thereof.
  2. The unclassified payment system operator shall ensure the adequacy of financial resources for its business, including assessing the suitability of capital and the mechanism for the maintenance thereof in a way that is commensurate with the nature of the payment system’s work.
  3. An unclassified payment system shall maintain financial resources to conduct its business equal to the highest cost resulting from operating its system for a minimum period of six months, in addition to ten million riyals in the form of paid-up capital.