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12. Responsibilities of Banks

No: 361000089524 Date(g): 14/4/2015 | Date(h): 25/6/1436 Status: In-Force
 i.A Bank shall pay the annual premium and any premium surcharge within such time and in such manner as specified by  SAMA;
 ii.A Bank shall be liable to fully indemnify the DPF for any payments made to its Deposit holders, until its liquidation;
 iii.A Bank shall comply with and observe all relevant rules, regulations, directives/instructions, etc. issued by  SAMA;
 iv.A Bank shall forthwith inform  SAMA about any significant deterioration in its capital adequacy or liquidity position or any other major development which has a significant bearing on its safety and soundness.