Article 22

If SAMA finds that a bank has failed to comply with the provisions of this Law, or with the provisions of any regulations issued under this Law, or if a Bank adopts a policy that might seriously affect its solvency or liquidity, it may, with the approval of the Minister of Finance and National Economy, take one or more of the following measures: a. Appoint one or more advisers to advise the bank in the conduct of its business. b. Order the suspension or removal of any director or officer of the bank. c. Limit or suspend the granting of credits or the acceptance of deposits. d. Require the bank to take such other steps, as it may consider necessary. If SAMA finds that a bank persistently contravenes the provisions of this Law or the decisions or regulations made thereunder, it may call upon such a bank to submit its reasons for the contravention, accompanied by its proposals to rectify the position within a stated period. If SAMA is of the opinion that such proposals are not sufficient for their purpose or if the bank fails to implement an agreed or prescribed course of action within the stated period, the Minister of Finance and National Economy may, subject to the approval of the Council of Ministers, revoke the license of the said bank.