Regulatory Alerts2022-03-24
The Procedures for Enforcing Judicial Decisions Issued Against Customers of Payment Service Companies
The Saudi Central System (SAMA) issued this circular to payment service companies, mandating the enforcement of judicial stop-orders against customers by suspending e-wallets, verifying registered identification and commercial data, and applying statutory deduction exemptions of 67% for salaries and 75% for pensions. The directive requires companies to promptly share confidential customer information upon verified requests, cancel transaction bans when lifted, and maintain adequate technological resources to execute court decisions during official working hours. Compliance ensures that payment service providers properly balance customer asset protection with regulatory transparency and operational efficiency.
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