Regulatory Alerts2025-08-10
Added · Updated
Amendment of Certain Requirements of the Account Opening Rules to Align with the New Commercial Register Law
The Saudi Central Bank (SAMA) has issued a circular amending specific requirements within the Account Opening Rules to align with the newly enacted Commercial Register Law. The amendments update record-keeping procedures for legal entities, mandate account freezing within 90 days of document expiration unless a renewal certificate is provided, and standardize customer identity update intervals to a maximum of five years. Additionally, the circular clarifies official notification protocols for account suspension due to death, loss of legal capacity, or liquidation proceedings.
More like this from SAMA
SAMA published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share