Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
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SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
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Effective from 2017-07-09 - Jul 08 2017 To view other versions open the versions tab on the right
Remittance centers shall update customers’ details regarding their membership in the following cases:
1)
Upon the expiry of the identity validity period or after the lapse of a maximum of 5 years, whichever is earlier.
2)
When customers’ personal identification documents and details, or the nature of their financial operations, are suspected.
3)
When their financial transactions do not conform with the information provided to the remittance center or when the pattern and behavior of the customer’s financial operations change.
It is also possible to benefit from the service (Yaqeen) as an the additional option for verifying the identity of customers electronically according to SAMA circular No. (371000018071) dated 12/2/1437H.
