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These Rules shall be called the Depositors Protection Fund Rules, 2015 (hereinafter called the DPF Rules);
ii.
The DPF Rules shall be applicable to all Banks, including all branches of foreign Banks licensed under the Banking Control Law that conduct banking business in Saudi Arabia. However, the provisions of these Rules shall not apply to the following:
a)
branches of Saudi Banks operating outside the Kingdom;
b)
subsidiaries of Saudi Banks operating within or outside the Kingdom.
iii.
All Banks, including all branches of foreign Banks, operating in Saudi Arabia shall be participants of the DPF and required to pay the prescribed premium;
iv.
The DPF Rules shall come into force with effect from 1st January 2016.
