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.
Effective from 2021-06-30 - Oct 09 2020 To view other versions open the versions tab on the right
a.
The license shall be valid for a maximum of five years, renewable for a similar period or another period specified by SAMA.
b.
The Money Changer must submit an application to renew the license at least six months before its expiration, in accordance with renewal requirements set by SAMA.
c.
The Money Changer shall not conduct Money Changing Business if the license expires without renewal. If a month has passed since the expiration of the license without a renewal application from the Money Changer, or when such period has passed without meeting the renewal requirements, SAMA may revoke the license.
