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2017-05-11

Instruments Issued by Licensed Notaries

The Saudi Central Bank authorizes regulated financial entities to accept and treat as executive documents instruments issued by licensed notaries within their statutory jurisdiction, in alignment with the Ministry of Justice’s phased implementation of notarial powers effective 25/11/1437H. This directive confirms that powers of attorney, company contracts, and related amendments authenticated by these notaries carry full executive force under the Execution Law and its regulations. Recipients are instructed to verify notary license validity through the official Ministry of Justice portal and disseminate this authorization to all relevant departments and branches.

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

Saudi Central Bank Headquarters

Banking Policies Department Ref. No.: Attachments:

Ref. No.: 381000086288 Date: 1438/08/15 Attachments:

Circular

Dear Sir/Madam,

After greetings,

Subject: Instruments Issued by Licensed Notaries within Their Jurisdiction.

I refer to the Ministry of Justice Circular No. 13/T/6458 dated 28/11/1437H, addressed to all government entities, which references Ministerial Decision No. 66954 dated 07/10/1435H regarding the Notaries and Their Work Regulation. Article 1 thereof stipulates that a licensed notary shall authenticate a number of acts, including powers of attorney and their revocation, company contracts, amendment appendices, and decisions by competent authorities therein. Notaries have begun phased operations to issue powers of attorney, revoke them, and authenticate company establishment contracts effective from 25/11/1437H. The circular requested awareness and action regarding instruments issued by notaries within their jurisdiction, and to consider them as executive documents in accordance with the provisions of the Execution Law and its implementing regulations.

We inform you that the Bank has received the reply letter from His Excellency the Minister of Justice No. 38/2450340 dated 01/07/1438H, which states that the validity of notary licenses can be verified through the Notaries Portal at the link (www.mwathiq.sa). Accordingly, acceptance of instruments issued by Ministry of Justice licensed notaries within their aforementioned jurisdiction is permitted.

For your information and to inform all concerned departments and branches. Yours sincerely,

Ahmed bin Abdullah Al-Sheikh Deputy Governor for Supervision

On behalf of: Hashem bin Uthman Al-Haqeel Deputy Governor for Banking Operations

  • Distribution Copy:
  • Banks operating in the Kingdom.
  • Insurance and reinsurance companies.
  • Financing companies.
  • Credit information companies.
  • Foreign exchange practitioners.

P.O. Box 2992, Riyadh 11169, Telegram Address: MARKAZI, Telex: 404400, Tel: 4633000, Fax: 4662414

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