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:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
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.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Payment messages transmitted for processing by the Service must meet the following criteria:
a)
Single Payment Messages only,
b)
Customer or Interbank payments in the format specified by SAMA,
c)
Same day value only - must be a working day in both the Sending and Receiving countries,
d)
Must include the currency code and amount in the currency of the Sending country as well as the exchange rate for that business day and the currency code and amount in the currency of the Receiving country in the appropriate fields.
e)
Follow message specifications set out in respective Message Format Guidelines.
f)
Be for credit to:
•
The Receiving Direct Participant itself (interbank payment),
•
A Financial Institution holding an account with the Receiving Direct Participant (Interbank payment), or,
•
A non-financial institution or person holding an account with the Receiving Direct Participant (Customer payment).
