Operating Rules for Cross Currency Payments using AFAQ Service

Return Payment Rules The receiving Direct Participants shall perform the following validation checks, for returned cross-currency payment messages: • Any Payment being returned must be returned as a single message, • The Payment Reference in field 72 is the same as the Reference in the original payment, • Only one successful return payment is allowed for each received payment message, • The payment must be returned within a maximum of 2 business days from the date of receiving the original payment message when both countries (sending and receiving) have business day simultaneously, • The payment currency code and amount in the return payment must be the same as those in the original payment message, • The exchange rate in the return payment must be the same as the exchange rate in the original payment message received by the return message creator's party, • The instructed currency code and amount in the return payment must be the same as those in the original payment message received by the return message creator's party, • The presence of original direct payment reference is checked in Central Component database and Return is rejected if o The original direct credit reference is not found, or, o The return is greater than two business days o A successful Return has already been accepted by the Central Component o Either of the currency amounts, currency code or exchange rate do not match the original payment 7.10 Reasons for Return or Rejection A list of valid return and rejection codes is included in APPX (2) . 7.11 Payments to the UAE All payments sent to UAE must contain the correct Purpose of Payment Code according to the list of such codes as communicated by SAMA. 7.12 IBAN All Customer Payments sent to those countries that use the International Bank Account Number (IBAN) standard - as advised by SAMA from time to time - must quote the IBAN in the Beneficiary Customer's account number field in the payment message in the format and following the rules published for the receiving country. Failure to include valid IBAN may be a valid reason for rejecting/returning the payment. 7.13 Finality Provisions A payment is deemed to be Final & Irrevocable once the account of the Sending Direct Participant has been debited. 7.14 Cancellation A Payment Message, once it has been debited to the account of the Sending Direct Participant, cannot be cancelled or recalled. 7.15 Anti-Money Laundering and Combating Terrorist Financing Each Direct Participant must comply with Anti Money Laundering and Combating Terrorist Financing laws and the Implementing Regulations. 8 Miscellaneous 8.1 Liabilities of SAMA Notwithstanding anything to the contrary in these Operating Rules or in any document or electronic communication referred to in these Operating Rules, neither SAMA nor any of its officers, employees or agents ("a Specified Party") shall be liable for any losses, or damages or expenses of any kind, whether direct or consequential ("Losses") suffered by a Direct Participant or any other person arising directly or indirectly from: a) any delays caused by or malfunctions or breakdowns or any inadequacy of the Service, b) any interruption or loss of the Service or of any of the services contemplated by the Service, c) any liability for Losses attributable to those parts of the Service which are the responsibility of a Direct Participant or to a Direct Participants fault or systems, or d) (without limitation) any acts or omissions of a Specified Party in connection with the Service or these Operating Rules; 8.2 Force Majeure A specified Party shall not be liable for any Losses or any non-performance of the Operating Rules or of Payment Messages or of any obligation in relation to the Service arising directly or indirectly from circumstances beyond reasonable control.