Effective from 2021-12-27 - Dec 26 2021 To view other versions open the versions tab on the right
Bank
As defined in Article 1(a) of the Banking Control Law and licensed by its provisions.
National Bank
As defined in Article 1(c) of the Banking Control Law.
Foreign Bank
As defined in Article 1(d) of the Banking Control Law.
Saudi Arabian Riyal Interbank Express
Saudi Arabian Riyal Interbank Express System, the Kingdom's Inter-Bank Electronic Funds Transfer Systems i.e. the Central System at SAMA, the Participants’ Gateways, the security sub-system, the Contingency Central System and Gateways, the communications links between these systems, and all other systems used by SAMA in connection with Saudi Arabian Riyal Interbank Express.
Participant
As defined by Rule 2.1.1. of SARIE Operating Rules and Regulations - Version 3.0.
Settlement Agent
A Participant who is authorized by SAMA to clear, settle and record transactions for Indirect Participants.
Indirect Participant
A Non-Participant Bank, whose transactions are cleared, settled and recorded by a Settlement Agent through Saudi Arabian Riyal Interbank Express.
