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2018-05-20

Activation of E-Services for Bank Accounts of Government Entities

The Saudi Arabian Monetary Authority mandates direct electronic banking services for all government entities, eliminating the need for case-by-case approvals to facilitate faster operations. The circular requires that banking transactions be executed via joint orders from authorized signatories according to approved protection levels, covering account viewing, internal transfers, and utility bill payments. Financial institutions must ensure strict compliance with existing electronic banking service rules effective immediately upon issuance.

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Saudi Arabia

Saudi Central Bank

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In the Name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority (SAMA) Headquarters

Banking Policy Department

Reference No.: 1660/41 Date: 1439/09/05 Attachments: None

Circular

To: Respected Banks,

Greetings,

Subject: Activation of E-Services for Bank Accounts of Government Entities.

The Authority has received the letter from the Assistant Undersecretary for Financial and Accounting Affairs at the Ministry of Finance, No. 86373 dated 15/08/1439H, stipulating the Ministry of Finance's approval to provide electronic banking services directly to all government entities without requiring case-by-case approval, aiming to facilitate and expedite operations for these entities. These services shall be provided as follows:

  1. Banking transactions shall be executed through electronic services via joint orders from authorized signatories, in accordance with the approved protection levels.
  2. The services provided to government entities include the following: (viewing account information, internal transfers, and payment of utility bills).
  3. Compliance with the relevant instructions, particularly the Electronic Banking Services Rules.

For information and implementation effective from the date of issuance.

Yours sincerely,

Ahmed bin Abdullah Al-Sheikh Deputy Governor for Supervision

On behalf of / Dr. Fahd bin Ibrahim Al-Shathri Deputy Governor for Research and International Affairs

Distribution Scope:

  • Banks operating in the Kingdom.
  • Banking Licensing Division.

P.O. Box 2992, Riyadh 1169, Telegram: MARKAZI, Telex: 404400, Tel: 4633000, Fax: 4662414

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