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Publication and Application

This Regulation shall be published in the Official Gazette in Arabic, and shall come into effect one month from the date of publication.

  1. A Company must comply fully with the provisions of this Regulation within the effective date.
  2. If the Company was not able to demonstrate full compliance within the effective date, then the Company must submit a plan within the effective date, to the Central Bank containing the steps that the Company will take in order to demonstrate full compliance. The Central Bank will decide on the adequacy of the proposed plan.