Article 118

(1) SAMA is responsible for the monitoring of actions conducted by Payment Service Providers and Payment System Operators and evaluating their compliance, and the monitoring and examination of potential violations of the Law, the Implementing Regulation, and any instructions, decisions or circulars issued by SAMA. (2) In conducting its supervisory functions, SAMA may conduct supervisory or inspection visits to the licensee's headquarters, branches and agents, including the power to request reports and risk assessments that it deems necessary for the exercise of its functions.