Regulatory Alerts2020-08-18
Providing Services for Issuing and Verifying Documents Electronically
The Saudi Central Bank requires all banks operating in the Kingdom to electronically issue and verify client documents, such as clearance certificates and account confirmations, while ensuring information confidentiality and bearer responsibility. This mandate aims to facilitate business operations, strengthen transaction integrity, and align the financial sector with digital infrastructure goals. Banks must submit a corresponding implementation plan to the Bank within one month of the circular's issuance date.
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