Book traversal links for 12. Responsibilities of Banks
12. Responsibilities of Banks
Effective from Apr 15 2014 - Apr 14 2014
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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. |