Urging Technical Connectivity with Musanid Platform

Saudi Central Bank

Circular

Number: 45075872 Date: 1445/12/18 AH Attachments: None

To: Esteemed Gentlemen Peace, mercy, and blessings of Allah be upon you, Subject: Urging Technical Connectivity with Musanid Platform.

I refer to the decision of the Ministry of Human Resources and Social Development No. (149944) dated 1445/11/04 AH, which stipulates the application of the Wage Protection Program for domestic workers by paying monthly wages through approved payment channels on the Musanid platform starting from 1445/12/25 AH, and to the Saudi Central Bank receiving a request from the Ministry urging banks and financial institutions to connect with the Musanid platform.

Accordingly, the Saudi Central Bank urges banks and financial institutions operating in the Kingdom to establish technical connectivity with the Musanid platform to enable it to provide the necessary services to all employers. The Saudi Central Bank also emphasizes adherence to all related instructions and regulations in this regard, including conducting assessments of technical and cybersecurity risks resulting from the connectivity process and ensuring the application of effective controls to limit and prevent potential risks.

Please accept my regards, Yazeed bin Ahmed Al Al-Sheikh Deputy Governor for Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463 3000