Regulatory Alerts2019-10-23
Subscribing in SMS Services
The Saudi Central Bank issued this circular requiring all financial institutions operating in the Kingdom to contract exclusively with SMS service providers licensed by the Communications, Space and Technology Commission (CITC). The directive aligns with a ministerial telegram governing Category (B) licenses and mandates that institutions verify provider licensing via the CITC website before entering into contracts. This requirement takes immediate effect and applies to banks, financing companies, insurance firms, payment service providers, and exchange centers operating within the Kingdom.
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