Article Eleven Agreement Termination Procedures
Art. ElevenStatus unknownSaudi ArabiaRegulation
Issued by Saudi Central Bank (SAMA) Rulebook
The Company or the Bank shall submit to SAMA a request to terminate the Agreement along with the reasons of termination. After obtaining SAMA’s approval, the Company and the Bank shall: a) Sign a financial clearance between them; b) Announce the termination of the Agreement on their official websites; and c) Take all actions that indicate the termination of the Agreement, including removal of all advertisements and returning the usernames and passwords of the Company’s electronic systems
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded