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The total amount of a Bank’s liability to an Eligible Depositor shall be determined by adding up all such Eligible Depositor’s Deposits, including any return due or accrued thereon on or before the cut-off date set by SAMA. In establishing the Bank's total liability to an Eligible Depositor, foreign currency Deposits shall be converted into Saudi Riyals at the exchange rate determined by SAMA on the cut-off date;
ii.
Only one Deposit per Person per Bank shall be covered under the DPF. If an Eligible Depositor has more than one account with a Bank, all Deposits with that Bank shall be deemed to be one Deposit and be protected only up to the maximum limit of SAR 200,000. Where an Eligible Depositor is a joint owner of a Deposit with a Bank together with one or more other Persons, only his proportionate share of such joint Deposit(s) shall be taken into account, and, together with any other Deposits he may have with that Bank, be deemed to be one Deposit and be protected only up to the specified limit of SAR 200,000 per Person per Bank;
iii.
The Deposit of a legal Person shall not be aggregated with the personal Deposit of its owner(s) while determining the amount of protected Deposit;
iv.
Any Deposits which are subject to a regulatory freeze, or restrictions of any sort shall not be included while determining the amount of protected Deposits unless specifically allowed by SAMA;
v.
The amount of a protected Deposit shall be determined after deducting any sum of money which the Bank is legally entitled to deduct by way of set-off from the deposit held by a depositor with the Bank;
vi.
SAMA may provide further guidance on determining the size of Deposits as well as the procedure to be adopted for payment of the protected amount of Deposits.
