Approval of Translated Business Registers for Commercial Entities

Ref. No.: 42054762
Date: 1442/08/05
Attachments: None

Circular

To: Respected Banks,

Peace, mercy, and blessings of God be upon you,

Subject: Approval of Translated Business Registers for Commercial Entities.

In light of the Saudi Central Bank's supervisory and regulatory role over banks operating in the Kingdom to organize and protect the sector, and to avoid the exploitation of similar names among commercial entities for obtaining banking facilities or products.

Therefore, the Saudi Central Bank confirms that banks operating in the Kingdom must adopt the specific English name specified in the Translated Business Registers service issued by the Ministry of Commerce when concluding salary transfer agreements with clients from institutions and commercial companies.

For information and action within one month from its date.

Yours sincerely,

Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision

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Distribution Scope:

• Banks operating in the Kingdom.

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