Regulatory Alerts2021-11-21
Regulation of the Special Integrated Logistics Zone
The Saudi Central Bank (SAMA) mandates that payment service providers operating within the Special Integrated Logistics Zone must adapt their policies and service agreements to reflect the specific nature of licensed entities. SAMA requires these providers to verify entity validity by obtaining copies of the relevant commercial registration, company establishment contracts with amendments, and authorized powers of attorney for account management. These measures ensure robust risk oversight and operational stability across the payments sector within the designated logistics zone.
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