2.10 Statementing
| No: م أ ق/15631 | Date(g): 5/4/2015 | Date(h): 16/6/1436 |
Effective from Jan 31 2025 - Jan 30 2025
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For prepaid payment service products requiring full KYC verification, (see section 2.3.1), statement preparation and delivery (either physical delivery by post or notification of electronic statement availability or through branches) must occur, at a minimum, quarterly if requested by the account holder.
The statement must include all transactions credited or debited from the account. The statement shall disclose the following items:
a. Charges/Fees. A disclosure of the amount, itemised and identified by type, of any charges or fees debited to the account during the statement cycle;
b. Address or phone number for notice of statement errors. The address or the phone number to be used for notice of statement errors.
In addition, the issuer shall, upon receipt of an enquiry from the cardholder, provide information about the remaining balance on the payment device, in any appropriate form.
For prepaid payment service products that use a simpler form of KYC, (see section 2.3.2), there are no requirements to issue regular statements. Prepaid payment service customers will be entitled to enquire about the remaining balance on the payment device upon presentment of the payment device at PoS at a participating merchant outlet.