Regulatory Alerts2025-04-28
Implementation of the Commercial Register Law and Trade Names
The Saudi Arabian Monetary Authority (SAMA) has directed all banks to implement the newly enacted Commercial Register Law and Trade Names Act by upgrading technical systems for electronic verification. The updated framework replaces traditional registration numbers with a Unified National Number, eliminates certificate expiry dates and subsidiary registers, and mandates annual confirmations to maintain active status. Banks must ensure staff compliance, integrate with the Ministry of Commerce’s verification platforms, and suspend registrations for merchants failing to submit required confirmations within ninety days.
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