Article 16 of the Saudi Payments and Payment Services Law

This article gives the Central Bank the power to disclose information on conditions set out in the text:

• What may be disclosed: any information relating to any person subject to the Law, such as operators of payment systems and providers of their services.
• To whom: any third party.
• The condition: that disclosure be necessary to implement the Law.

The power is permissive, not mandatory: the text says "may," and it is limited by the condition of necessity to implement the Law. The text does not extend to a disclosure not required by this necessity. The article does not specify who the third party is or the procedures for disclosure.

This article follows Article 15, which gives the Central Bank's inspectors the power to review records and obtain information from persons subject to the Law; the information the Central Bank obtains may, where necessary to implement the Law, be disclosed to a third party. It is followed by Article 17, which allows the Central Bank to exempt from some licensing requirements in order to encourage innovation.

Anyone who believes that information about him was disclosed in a case other than the one the article permits would do well to consult a lawyer specializing in banking and finance and payment systems.