Regulatory Alerts2021-06-14
Automating Ministry of Finance Requests for Government Agency Accounts at Saudi Commercial Banks via the Hisab E-Portal
The Saudi Arabian Monetary Authority (SAMA) mandates all supervised commercial banks to process Ministry of Finance requests for government entity accounts through the Hisab electronic portal. Banks must activate designated representative accounts, comply with the attached operational guide, and promptly execute all incoming requests starting June 15, 2021. Supervising banks retain full responsibility for monitoring request processing and must direct specialists to ensure timely execution while adhering to the portal’s standardized procedures.
Share