Regulatory Alerts2024-07-29
Urge Connectivity with Takamul Platform
The Saudi Central Bank issued this circular urging operating banks to establish technical connectivity with Takamul Holding Company for automated verification of unified identification numbers. This integration streamlines compliance for non-governmental entities that do not require a commercial registration by replacing traditional registration numbers with unified identifiers starting with (7). Banks must conduct technical and cybersecurity tests, implement precautionary measures, and adhere to existing regulatory guidelines when executing this connectivity.
Saudi Central Bank
Reference No.: 46005439 Date: 1446/01/23 Attachments: None
Circular
To: Respected Banks,
Peace be upon you,
Subject: Urge Connectivity with Takamul Platform.
I refer to the Saudi Central Bank instructions issued under Circular No. (42017708) dated 1442/03/18H regarding the replacement of the commercial registration and licenses number for non-governmental entities with a unified number starting with (7), and in reference to Paragraph (17) within these instructions, concerning the source for obtaining unified numbers for entities that do not have/are not required to obtain a commercial registration, and the availability by the Ministry of Human Resources and Social Development of the unified number verification service through the service provider's (Takamul Holding Company) website.
Accordingly, the Saudi Central Bank urges technical connectivity with a trusted source (Takamul Company) to benefit from the unified number verification service for entities that do not have/are not required to obtain a commercial registration. The Bank also confirms conducting technical and cybersecurity tests and taking all necessary precautionary measures for this connectivity, in compliance with the Bank's instructions issued on this matter.
Yours sincerely,
Yazeed bin Ahmed Al-Sheikh Deputy Governor for Supervision
Distribution Scope:
- Banks and financial institutions operating in the Kingdom
P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia | Tel: +966 11 463 3000