RegAlert2023-03-23
Added · Updated
Emphasis on the Prohibition of Initiating Any Remote Relationship Without Using Biometric Authentication
The Saudi Central Bank (SAMA) issued Circular No. 44037856 mandating that financial institutions must utilize biometric authentication when initiating or creating remote customer relationships across any channel. Institutions are required to complete integration with approved service providers by January 31, 2023, ensuring a high level of security assurance. SAMA will enforce compliance through regulatory measures for any entities that fail to implement this authentication requirement.
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1
Abdulaziz T. Alotaibi
From: Payment Policy
Sent: Thursday, March 23, 2023 3:27 PM
Cc: Husam A. Al Mahmoud; Dr. Yazeed A. Alissa; 'Payment Policy' (PaymentPolicy@SAMA.GOV.SA)
Subject: Circular - Emphasis on Not Initiating/Creating Any "Remote" Relationship Across Various Channels Except Using Biometric Authentication Feature Attachments: Circular.pdf
Dear Customers,
Peace be upon you,
In accordance with the instructions of the Central Bank communicated under Circular No. (44037856) dated 1444/05/03 AH, regarding the adoption of using the Biometric Authentication feature when initiating/creating a "remote" relationship, and completing procedures with the approved service provider by no later than 2023/01/31 AD.
Therefore, the Central Bank emphasizes that no "remote" relationship is initiated/created across various channels except by using the Biometric Authentication feature, and that the Central Bank will take regulatory measures in case of non-compliance.
A high level of assurance is expected.
For your information, effective from its date. In case of any inquiries regarding this matter, you may write to the Central Bank via email at (CRC.Compliance@SAMA.GOV.SA).
Yours faithfully,
W . S A M A . G O V . S A
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Lineage: In force
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Source: Saudi Central Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works