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Economic & Sector Work :: Financial Sector Assessment Program (FSAP)

Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems

ACCEPTABLE COLLATERAL ACCESS POLICY ACCOUNT BALANCES ACCOUNT NUMBER ACCOUNT NUMBERS ACCOUNTING ANTI-MONEY LAUNDERING ATM AUCTIONS AUTHORIZATION AUTHORIZATIONS AUTHORIZED ENTITY AUTHORIZED PERSONNEL AUTHORIZED PERSONS AUTOMATION BACKUPS BANK ACCOUNT BANK ACCOUNTS BANK CUSTOMERS BANK PAYMENT BANK PAYMENTS BANK REGULATIONS BANKING LAW BANKING LAWS BANKING SYSTEM BANKING TECHNOLOGY BENEFICIARY BILL PAYMENT BONDS BROKER BROKERS BUSINESS CYCLE BUSINESS-TO-BUSINESS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKET LAW CAPITAL MARKETS CASH FLOW CASH SETTLEMENT CENTRAL BANK CENTRAL BANKS CENTRAL SECURITIES DEPOSITORIES CENTRAL SECURITIES DEPOSITORY CHECK CLEARING CHECKS CLEARING HOUSE CLEARING HOUSES COLLATERAL COLLATERAL POLICY COLLATERALIZATION COLLATERALS COMMERCIAL BANK COMMERCIAL BANKS COMMUNICATIONS NETWORK COMPETITIVE BIDDING CONSUMER PROTECTION CORPORATE BOND CORPORATE BONDS CORPORATE SECURITIES CREDIT INFORMATION CREDIT INFORMATION DATABASE CREDIT RISK CREDIT RISKS CREDIT TRANSFERS CURRENCY DATA REPLICATION DATA SECURITY DATA SECURITY STANDARDS DEBIT CARDS DEPOSIT DERIVATIVE DERIVATIVE PRODUCTS DERIVATIVES DERIVATIVES MARKET DEVELOPMENT BONDS DIGITAL CERTIFICATES DIGITAL SIGNATURES DIRECT DEBIT DIRECT DEBITS EBPP ELECTRONIC BILL ELECTRONIC BILL PRESENTMENT ELECTRONIC BILL PRESENTMENT AND PAYMENT ELECTRONIC TRANSACTION ELECTRONIC TRANSACTION LAW EQUITIES FILE TRANSFER FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL RISKS FINANCIAL SERVICES FLOATING RATE FLOATING RATE NOTES FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FRAUD FRAUDULENT TRANSACTIONS GLOBAL PAYMENT GOVERNMENT SECURITIES GROSS SETTLEMENT SYSTEM GUARANTEE FUND GUARANTEE FUNDS HARDWARE INDIVIDUAL INVESTORS INTEREST RATE INTEREST RATE RISKS INTERNAL AUDITORS INTERNATIONAL BANK INTERNATIONAL PAYMENT CARD INTERNATIONAL STANDARDS INVESTING INVESTMENT BANK ISLAMIC BONDS LEGAL FRAMEWORK LEVEL OF RISK LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RISK LIQUIDITY RISKS LOAN LOW VALUE PAYMENTS MARKET PARTICIPANT MARKET PARTICIPANTS MARKET PLAYERS MARKET STRUCTURE MARKET TRANSACTIONS MESSAGING SERVICE MOBILE PHONE MOBILE PHONES MONETARY FUND MONEY TRANSFER MONEY TRANSFERS MORAL SUASION NATIONAL PAYMENT CARD OPEN ACCESS OPERATIONAL RISK OPERATIONAL RISKS OVERNIGHT REPO OVERNIGHT REPOS PAYMENT CARD PAYMENT CARD NETWORK PAYMENT CARD NETWORKS PAYMENT CARD TRANSACTIONS PAYMENT FLOW PAYMENT FLOWS PAYMENT INFORMATION PAYMENT INSTRUMENTS PAYMENT NETWORK PAYMENT PRODUCTS PAYMENT SERVICE PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENT TRANSACTIONS PAYMENTS NETWORK PAYMENTS SYSTEM PENSIONS PHYSICAL SECURITY PKI POINT OF FAILURE PRIMARY MARKET PRIVATE NETWORK PRUDENTIAL REGULATION PUBLIC KEY PUBLIC KEY INFRASTRUCTURE PUBLIC POLICY REAL TIME GROSS SETTLEMENT REAL TIME GROSS SETTLEMENT SYSTEM REGULATORY FRAMEWORK RESERVES RETAIL PAYMENT RETAIL PAYMENT SYSTEMS RISK CONTROL RISK MANAGEMENT ROLLING SETTLEMENT RTGS SECONDARY MARKET SECONDARY MARKET TRANSACTIONS SECURITIES SECURITIES AS COLLATERAL SECURITIES EXCHANGE SECURITIES MARKET SECURITIES MARKET LAW SECURITIES REGULATOR SECURITIES SETTLEMENT SECURITIES TRANSACTIONS SECURITY MARKET SECURITY PROCEDURES SETTLEMENT SETTLEMENT FACILITIES SETTLEMENT INFRASTRUCTURE SETTLEMENT RISK SETTLEMENT RISKS SETTLEMENT SYSTEMS SMART CARDS SOFTWARE UPDATE STAKEHOLDERS STANDARDIZATION STOCK EXCHANGE STOCKS SUKUK SWAP SWAPS SYSTEM DESIGN T-BILL T-BILLS TERRORISM TRADING TRADING SYSTEM TRANSACTION TRANSFER OF OWNERSHIP TRANSFER OF SECURITIES TRANSPARENCY TREASURY TREASURY BILLS TURNOVER VALUE OF COLLATERAL WITHDRAWAL
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World Bank, Washington, DC
Middle East and North Africa | Saudi Arabia
2013-10-01T17:17:57Z | 2013-10-01T17:17:57Z | 2011-09

The present document is the assessment of the systemically important payment systems in the Kingdom of Saudi Arabia (KSA) based on the CPSS Core Principles for Systemically Important Payment Systems (CPSIPS). The document also contains an analysis of some developmental issues related to the reform of the payments system as a whole. The assessment was conducted in the context of the field mission of the Financial Sector Assessment Program (FSAP) Update to the KSA (April 2011). The assessor of the CPSIPS was Massimo Cirasino. The national payments system (NPS) in Saudi Arabia efficiently serves the needs of a broad set of users. In particular, SAMA has implemented a comprehensive and robust infrastructure to support the provision of payment services and products by commercial banks. The infrastructure is primarily concentrated on payments in riyals and comprises the following systems: (i) the Saudi Arabian Riyal Interbank Express (SARIE) real time gross settlement (RTGS) system, which processes a wide range of large-value and small-value payments and provides settlement facilities for a number of clearing systems, as well as for transactions executed at the Tadawul stock exchange; (ii) the check clearing houses operated at SAMA branches; (iii) automated teller machine (ATM) and point-of-sale services provided through Saudi payments network; (iv) electronic bill presentment and payment processed by the national electronic bill presentment and payment service; (v) the Public Key Infrastructure (PKI) which provides advanced security facilities; and (vi) the SAMA Joint Network (SJN) providing a highly secured communications network. The NPS in Saudi Arabia is characterized by a high level of standardization.

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