The Saudi Central Bank (SAMA) has released an updated version of the “Oversight Framework for Payment Systems and Their Operators,” replacing the previously applicable “Oversight Framework for Payments and Financial Settlement Systems.” This update reflects SAMA’s ongoing supervisory and regulatory role in the payments sector, as well as its commitment to enhancing the sector’s stability and growth.
The revised framework clearly defines its scope and aligns with the provisions of the Law of Payments and Payment Services, issued under Royal Decree No. (M/26) dated 22/03/1443 AH, along with its implementing regulations. It also sets out the supervisory approach, including oversight tools, self-assessment mechanisms, and formal oversight evaluations.
Furthermore, the framework outlines the responsibilities and obligations of payment systems and their operators in accordance with applicable regulatory requirements and international standards.
The updated framework is available through SAMA’s Rulebook on its official website.
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