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

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...

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Main Authors: International Monetary Fund, World Bank
Format: Financial Sector Assessment Program (FSAP)
Language:English
en_US
Published: World Bank, Washington, DC 2013
Subjects:
ATM
PKI
Online Access:http://documents.worldbank.org/curated/en/2011/09/18170315/saudi-arabia-committee-payment-settlement-systems-cpss-core-principles-systematically-important-payment-systems
http://hdl.handle.net/10986/15970
id okr-10986-15970
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic 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
spellingShingle 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
International Monetary Fund
World Bank
Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
geographic_facet Middle East and North Africa
Saudi Arabia
description 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.
format Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
author International Monetary Fund
World Bank
author_facet International Monetary Fund
World Bank
author_sort International Monetary Fund
title Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
title_short Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
title_full Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
title_fullStr Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
title_full_unstemmed Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems
title_sort financial sector assessment program : saudi arabia - cpss core principles for systematically important payment systems
publisher World Bank, Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2011/09/18170315/saudi-arabia-committee-payment-settlement-systems-cpss-core-principles-systematically-important-payment-systems
http://hdl.handle.net/10986/15970
_version_ 1764431742899322880
spelling okr-10986-159702021-04-23T14:03:23Z Financial Sector Assessment Program : Saudi Arabia - CPSS Core Principles for Systematically Important Payment Systems International Monetary Fund World Bank 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 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. 2013-10-01T17:17:57Z 2013-10-01T17:17:57Z 2011-09 http://documents.worldbank.org/curated/en/2011/09/18170315/saudi-arabia-committee-payment-settlement-systems-cpss-core-principles-systematically-important-payment-systems http://hdl.handle.net/10986/15970 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Middle East and North Africa Saudi Arabia