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.
Obligations of the Payment and Financial Settlement Infrastructure
Status: In-Force
Effective from Aug 04 2021 - Aug 03 2021 To view other versions open the versions tab on the right
The primary responsibility for ensuring the safety and efficiency of the payment and financial settlement infrastructure lies with the owners and operators of the infrastructure. In order to ensure this, payment and financial settlement infrastructure in line with PFMIs (Principle 23) are required to assess themselves against the PFMI at least once a year or as mandated by SAMA from time to time. Payment and financial settlement infrastructures are also required to disclose publicly responses to PFMI in line with CPSS-IOSCO Disclosure Framework for Financial Market Infrastructures.
By complying with the Principles, the payment and financial settlement infrastructure should be able to demonstrate that:
1.
Infrastructures operated by them are safe and efficient.
2.
They have proper procedures in place for identifying and managing risks specifically focusing on credit, liquidity, settlement, and operational risk in their respective business activities;
3.
They are complying with the relevant SAMA rules and regulations and any additional requirements issued by SAMA from time to time.
4.
They have sufficient MIS to provide relevant information or documents as required by SAMA from time to time.
