Regulatory Alerts2015-01-22
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Criteria for Systemically Important Payment Systems in the Kingdom of Saudi Arabia
The Saudi Central Bank (SAMA) establishes criteria to classify payment systems as systemically important based on interbank risk, daily transaction volume, settlement roles, and market participant depth. The Authority mandates that any system meeting at least one of these four thresholds be subject to enhanced regulatory oversight to protect financial stability and infrastructure resilience. Accordingly, SAMA officially designates the Saudi Quick Transfer System (Sariq), the Saudi Payment Network (SAPN), and the Sadad Payment System as the Kingdom’s systemically important payment systems.
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