SAMA Updates Payment Systems Oversight Framework
Summary
SAMA (Saudi Central Bank) has updated its Payment Systems Oversight Framework, replacing the previous version. The updated framework applies to all payment service providers operating in Saudi Arabia, including banks and non-bank payment institutions. Key changes include enhanced requirements for operational resilience, cybersecurity controls, and consumer protection standards in payment services.
What changed
SAMA has issued an updated Payment Systems Oversight Framework that supersedes the previous version. The update introduces enhanced supervisory expectations for payment service providers, including strengthened requirements for risk management, data protection, and business continuity planning. New provisions address emerging risks in digital payments and establish clearer guidelines for incident reporting and resolution timelines.
For affected payment service providers and banks, the updated framework necessitates comprehensive reviews of existing policies, procedures, and technical controls. Entities will need to demonstrate enhanced governance arrangements and more robust safeguards for consumer funds and transaction data. SAMA is expected to conduct assessments aligned with the new framework standards going forward.
What to do next
- Review updated payment systems oversight framework requirements
- Assess current compliance with new framework standards
- Implement necessary changes to align with updated oversight requirements
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- Weekly Points of Sale Transactions
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- Saudi Arabia Islamic Finance Report
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- Finance and Exchange Rate
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- About
- Overview
- Saudi Central Bank Law
- Saudi Central Bank Functions
- Historical preview
- Organization Structure
- Saudi Central Bank Board of Directors
- International Relations
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- Finance
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- Credit Information
- Related Links Saudi Central Bank Saudi Central Bank News SAMA Issues the Updated Oversight Framework of the Payment Systems and Their Operators News الاخبار SAMA Issues the Updated Oversight Framework of the Payment Systems and Their Operators 3/24/2026 1:00 PM #### The Saudi Central Bank (SAMA) announced the issuance of the updated “Oversight Framework of the Payment Systems and Their Operators," which will replace the currently applicable “Oversight Framework for Payments and Financial Settlement Systems." This is part of SAMA's supervisory and regulatory role over the payments sector, and its ongoing efforts to support the sector's stability and growth.
The update defines the scope of the framework and aligns it with the provisions of the Law of Payments and Payment Services issued by Royal Decree No. (M/26) dated 22/03/1443 AH, and its implementing regulations. It also outlines the supervisory methodology, including oversight tools, self-assessment, and oversight assessment. In addition, the update identifies the obligations of payment systems and their operators in line with applicable regulatory frameworks and international standards.
The updated “Oversight Framework of the Payment Systems and Their Operators" can be accessed through SAMA's Rulebook on its website (Link).
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