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Data Quality Improvement Project in the e-Commerce Sector in the Kingdom

No: 43096118 Date(g): 19/6/2022 | Date(h): 20/11/1443 Status: In-Force

Translated Document

Based on the tasks and powers vested to SAMA under the Saudi Central Bank Law issued by Royal Decree No. (M/36) dated 11/04/1442H and the Banking Control Law issued by Royal Decree No. (M/5) dated 22/02/1386H, and referring to SAMA Circular No. (3910000075005) dated 02/07/1439H, regarding the use of MADA bank cards for buying products through internet, and in view of the growth of the e-commerce sector in the Kingdom and the desire to improve the mechanism of data collection related to e-commerce.

SAMA stresses to all banks the importance of adhering to the operational framework and technical and operational rules of the Data Quality Improvement Project, which was shared with all banks in April 2022 by Saudi Payments company taking into account the commitment to the following:

  1. First: Complete all requirements mentioned in the operational framework, and the technical and operational rules of the Data Quality Project.
     
  2. Second: Commit to sharing data based on the mechanism of sending data agreed upon with Saudi Payments.

For your information and action accordingly as of this date, with emphasis on the commitment of all parties to the provisions of the Personal Data Protection Law issued by Royal Decree No. (M/19) dated 09/02/1443H concerning the retention, collection, processing, and sharing of personal data; provided that the requirements must be completed, and the above-mentioned commitments is complied with within (20) working days and provide Saudi Payments with the procedures that have been adopted in this regard via email: BusinessOps@saudipayments.com.