Regulatory Alerts2018-04-12
Accepting Electronic Authentication of Company Incorporation Contracts for Limited Liability
The Saudi Central Bank issued a circular instructing all finance companies operating in the Kingdom to accept electronically authenticated incorporation contracts for Limited Liability Companies that bear only the Ministry of Commerce and Investment stamp and lack traditional Notary Public seals. Regulated entities must verify the validity of these contracts using the established banking sector verification service or by accessing the Ministry’s "Aamaly" portal. This directive operationalizes recent Ministry of Commerce amendments and takes immediate effect for all covered institutions.
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