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Article 117

Date(g): 13/6/2023 | Date(h): 25/11/1444 Status: In-Force

Translated Document

Effective from Jun 13 2023 - Jun 11 2023
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  1. The payment systems operator shall include in the operating rules the obligation for members to notify the payment systems operator immediately upon being aware of the bankruptcy or possibility of bankruptcy of a member or the commencement of any bankruptcy proceedings.
  2. The payment systems operator shall notify SAMA immediately upon being aware of the bankruptcy of a member or the possibility of his bankruptcy or the commencement of any bankruptcy proceedings.