The Saudi Central Bank (SAMA) has announced the release of an updated draft of the “Oversight Framework for Payment Systems and Their Operators" for public consultation through the Public Consultation Platform “Istitlaa" of the National Competitiveness Center.

This update is part of SAMA's supervisory and regulatory role over the payment sector, and its ongoing efforts to support the sector's stability and sustainable 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 11/01/1443H, and its Implementing Regulations. It also outlines the supervisory methodology, including oversight tools, self-assessment processes, and supervisory assessment. In addition, the update 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 (PFMIs).

The submission window for feedback and comments on the updated “Oversight Framework for Payment Systems and Their Operators" will be open for (15) days. Subsequently, public feedback and comments will be considered in finalizing and formalizing the draft.

To view the draft, please visit the Public Consultation Platform “Istitlaa" of the National Competitiveness Center via the following (link​​).