Every Bank shall submit to SAMA a quarterly return containing information on the composition and amounts of its average Deposits for each calendar quarter. The return shall also set out in detail the calculation of the annual premium and shall be certified by the Managing Director or Chief Executive. The return shall be submitted to the DPF Unit within 30 days of the end of every calendar quarter;
ii.
If a Bank fails to submit the above return within the specified time or provides incorrect information, SAMA may take any action permitted under the Banking Control Law.
