Brief about Payment Systems and Companies Control Department (PSCCD):
Saudi Arabian Monetary Authority (SAMA) is the competent authority to control and oversee the sector of Payments Systems and Payment Service Providers in the Kingdom. SAMA is undertaking its regulatory, oversight, and supervision responsibilities based on the Council of Ministers Resolution number 226 dated 02/05/1440. The resolution assigns SAMA as the competent authority to operate as well as control and oversee Payment Systems and Payment Service Providers in the Kingdom. The resolution additionally stated that SAMA has the authority to issue rules, guidelines, and licenses in this regard.