Regulatory Alerts2020-02-19
"Nafez" Electronic Platform Approved by the Ministry of Justice
The Saudi Central Bank authorizes domestic banks to connect to the Ministry of Justice’s "Nafez" electronic platform for fully digital issuance and management of execution instruments. This connectivity supports the Bank’s strategy to enhance electronic channels and advance Saudi Vision 2030. Banks must comply with existing remote account opening instructions, which mandate a physical branch visit before initiating any credit or financing transactions.
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