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Third: Transaction Processing Mechanism

No: 381000122205 Date(g): 10/9/2017 | Date(h): 19/12/1438 Status: In-Force

Translated Document

 

  1. Execute the content of the transactions on the bank/company system as required and within the timeframes specified in paragraph (1) of section (First) above, and fill in the fields in the SAMA Net system in accordance with their content.
     
  2. The bank’s responses must be clear and reflect the actions taken by the bank/company.
     
  3. In case the transaction involves original documents (original checks, original banking documents), they must be sent before the expiration of the time specified in paragraph (1) of section (First) above. The shipping number of the original documents mentioned in this paragraph should be included when responding to the transaction in the SAMA Net system. Each transaction’s original documents must be placed in a separate, sealed envelope, accompanied by an official letter addressed to the Manager of the Banking Procedures Division, and the envelope should clearly indicate the transaction information as referenced in the SAMA Net system.
     
  4. Adhere to the regulations governing transaction processing, such as the Unified Processing Mechanism, the Advanced Processing Mechanism, the rules for opening and operating bank accounts, and other relevant systems and instructions.
     
  5. Comply with the provisions of Circular No. 381000058769 dated 02/06/1438H regarding the mechanism for submitting reports or problems and malfunctions in SAMA Net system.