SPAN Operating Rules and Regulations
| No: 341000076614 | Date(g): 30/4/2013 | Date(h): 20/6/1434 |
Translated Document
Based on the supervision and control of SAMA over the business of commercial banks in accordance with the Saudi Arabian Monetary Authority Law issued by Royal Decree No. 23 dated 23/5/1377 H, the Banking Control Law issued by Royal Decree No. M/5 dated 22/2/1386 H and the Anti-Money Laundering Law issued by Royal Decree No. M/39 dated 25/6/1424 H and its implementing regulations, and in accordance with the Council of Ministers Resolution No. (59) dated 28/3/1420 H, which authorized SAMA to license the issuance of electronic cash cards and the like, and supervise them according to the instructions and standards it adopts.
We inform you of the issuance of the operating rules and regulations of the Saudi Payment Network (Sixth Edition) (attached) approved by SAMA, provided that they are applied to all services and products of the Saudi Payment Network as of its date, and work to comply with them and the updates received from time to time, and amend the related services and products available in the local market within a period not exceeding six months from its date.