Guidelines for Merchants Contracted with Banks on the Confidentiality of Credit Card Information

In the Name of Allah, the Most Gracious, the Most Merciful Saudi Arabian Monetary Authority (SAMA) Headquarters

Banking Policy Department

Ref. No.: 67064 / 67
Date: 1440/11/08
Attachments: None

Circular

To: Respected Banks and Financial Institutions, Peace be upon you, and the mercy of Allah and His blessings.

Subject: Emphasis on Merchants Contracted with Banks and Financial Institutions to Provide Electronic Payment Services Not Photographing, Copying, or Recording Confidential Information on Credit Cards.

Reference is made to the regulations for the issuance and operation of credit cards and monthly charge cards, communicated via Circular No. 361000090389 dated 1436/6/26H, and the principles for protecting bank customers, communicated via Circular No. 341000095960 dated 1434/8/3H.

In light of observations that some merchants photograph credit cards, copy their data, and record confidential information thereon, the Authority hereby directs all banks and financial institutions operating in the Kingdom to ensure that contracted merchants providing electronic payment services do not photograph credit cards, copy their data, or record confidential information thereon, without prejudice to the provisions of the contractual agreement between the bank/financial institution and the merchant.

Yours sincerely,

Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision

On behalf of / Hashim bin Uthman Al-Haqil
Deputy Governor for Affairs
Financial Sector

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Telegram Address: Markazi, Telex: 404400, Tel: 4632000, Fax: 4662414