Regulatory Alerts2021-03-31
Approving the Requirement for Lawyers to Obtain the Unified Identity Number for Non-Governmental Establishments Beginning with Number 7 Through the Legal Registry
The Saudi Central Bank mandates that all supervised financial institutions, credit information companies, and internal departments require lawyers to obtain the Unified National Number for Non-Governmental Establishments (beginning with 7) through the Legal Establishment Registry. This directive operationalizes a Ministry of Justice circular and Council of Ministers' decision by replacing commercial registration numbers with the new unified identifier for legal professionals. Financial entities must immediately update their compliance procedures to verify this specific registry number when onboarding or servicing lawyers.
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