Skip to main content

Article 118

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

  1.  SAMA shall be responsible for monitoring the practices of payment service providers and payment system operators and evaluating the extent of their compliance, including monitoring and examining cases of suspected violations by payment service providers and payment system operators of the system and regulations, as well as any instructions, decisions or circulars issued by SAMA.
  2.  SAMA may exercise its supervisory duties by conducting supervisory or inspection visits to the licensee’s headquarters, branches and agents, and the same includes the authority to request reports and risk assessments that it deems necessary to exercise its duties.