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.
Investigation and review of complaints and objections shall be in accordance with the following procedures and timeframes:
1.
the company shall within 5 working days from the date of being informed with the complaint, inform the member who issued the objected negative information in a written form and mention all related information as well as all evidence and documents submitted by the consumer, and give the member no more than 10 working days to respond. If no response is received within 10 working days, this will be taken as valid evidence for supporting the consumer’s claim;
2.
the company shall take its decision within no more than 7 working days of receiving the member’s response or expiry of the period stipulated above;
3.
once the investigation proves partial or complete validity of the claim, or it is proven that the information cannot be verified, the company shall within 2 working days remove the objected information from the record or revise it, as the case may be; and
4.
the company shall not have the right to delete or revise any negative information in the consumer’s credit record once it is proven to be accurate.
