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Procedures for Depositing Salary Payments

No: 41043218 Date(g): 16/2/2020 | Date(h): 22/6/1441 Status: In-Force

Translated Document

Based on the supervisory and regulatory role of SAMA, and to improve practices related to salary deposit operations from various entities to different beneficiaries, it has been noted recently that some banks have been delaying salary payments.

Therefore, SAMA confirms its commitment to the relevant instructions and procedures, in addition to the following:

  1. The work on implementing the processes of depositing salary collections immediately after completing the data from the relevant entities.
  2. Providing qualified human resources and the necessary technical resources to ensure the safety of salary deposit and transfer operations, with an aim to enhance the readiness of system performance monitoring both technically and operationally during the salary transfer and deposit processes. This includes taking the necessary measures and developing effective alternative plans for salary deposits without delay in the event of any technical problems.
  3. Establishing an appropriate mechanism for the internal escalation of problems that prevent or delay the process of salary deposit and transfer, and immediately informing the Financial Sector IT Risk Supervision Management about the nature of the problem and the actions taken to address it.
  4. Conduct the necessary assessments for any changes or operations on the systems and ensure that they do not affect the bank's systems during the salary deposit and transfer period. In the event of any disruption in the deposit process, the bank must send an electronic message (TSM) via the "SARIE" system to SAMA, specifying the expected deposit time and stating the reasons for the delay, so that SAMA can submit the necessary reports for the relevant authorities.