Regulatory Alerts2021-06-27
Deactivation of Point-of-Sale Terminals Tied to Frozen Bank Accounts of Juristic Persons
The Saudi Central Bank issued this circular requiring all domestic banks and financial institutions to deactivate point-of-sale terminals linked to frozen bank accounts of juristic persons. The directive mandates the immediate freezing of all related accounts and transactions for these entities upon the expiry of their required business licenses. This regulatory measure takes effect as of the circular's date to enforce strict compliance across the Kingdom’s banking sector.
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