Effective from Apr 15 2014 - Dec 31 2015 To view other versions open the versions tab on the right
i.
The DPF’s resources shall consist of the following:
a)
Initial and periodic premium payments from Banks;
b)
return on the investment of DPF’s resources;
c)
proceeds received from a Bank’s property in case of its sale or liquidation;
d)
Other sources of funding including loans and grants.
ii.
If at any time, the resources of the DPF fall short of its liabilities, such shortfall may be covered in such manner as may be specified by SAMA and may include, inter alia, requiring Banks to make advance premium payments and/or increasing the rate and/or frequency of premium payments for which Banks will be notified in advance;
iii.
SAMA shall open and maintain a separate account in the name of DPF with itself and all premium payments and contributions shall be deposited in the said account.
