The Saudi Central Bank (SAMA) has released an updated draft of the Oversight Framework for Payment Systems and Their Operators for public consultation through the National Competitiveness Center’s Public Consultation Platform, Istitlaa. The draft update defines the framework’s scope and aligns it with the Law of Payments and Payment Services (issued by Royal Decree No. (M/42) dated 11/01/1443H) and its Implementing Regulations. It also sets out the supervisory methodology, including oversight tools, self-assessment processes and supervisory assessment, and clarifies the obligations of payment systems and their operators in line with applicable regulatory frameworks and international standards such as the Principles for Financial Market Infrastructures. Feedback can be submitted for 15 days, after which SAMA will consider comments in finalising and formalising the framework.
Saudi Arabian Monetary Authority 2025-11-12
Saudi Central Bank launches 15-day consultation on updated oversight framework for payment systems and operators
The Saudi Central Bank (SAMA) has issued an updated draft of the Oversight Framework for Payment Systems and Their Operators for public consultation. The draft aligns with the Law of Payments and Payment Services and its Implementing Regulations, detailing supervisory methodology and obligations per international standards like the Principles for Financial Market Infrastructures. Feedback will be considered before finalizing the framework.