Article 116

Notwithstanding any other applicable laws and regulations in the Kingdom: (1) A Payment System Operator must notify SAMA in the event of a Serious Disruption and shall take appropriate measures. (2) A payment System Operator must prepare the necessary policies and procedures for measures to handle Serious Disruption incidents that result in a total or partial actual or potential failure or suspension of the Payment system or lead to actual or potential bankruptcy of the Payment Systems Operator, and they must include: (a) Communications to internal and external stakeholders in a timely and methodical manner; and (b) Steps to resolve issues caused by the Serious Disruption as efficiently as possible.