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2024-11-24

The Primary User of the Electronic Services Portal (E-SAMA Portal)

The Saudi Central Bank (SAMA) issued this circular to designate the Chief Executive Officer (or equivalent) of regulated financial institutions as the Primary User for its newly launched eSAMA Electronic Services Portal, which will fully replace written requests starting in Q1 2025. The directive mandates that financial institutions ensure their CEOs hold the necessary Commercial Register powers to submit and manage digital requests, continuously update institutional data, and maintain board approvals where required. Institutions must authenticate users via the Nafath system, manage delegated access permissions internally, and direct operational inquiries to designated digital service emails or the unified support line.

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1 Aljawharah F. Almusabbihi From: Payment Policy Sent: Sunday, November 24, 2024 10:09 AM Cc: Husam A. Al mahmoud; Dr.yazeed A. Alissa; Payment Policy Circular | The Primary User of the Electronic Services Portal (eSAMA portal, eServices): Subject

Dear Sir/Madam, Peace, mercy, and blessings of God be upon you.

In implementation of the Saudi Central Bank System issued by Royal Decree No. (M/36) dated 1442/4/11 AH, and in pursuit of the Central Bank's efforts to develop the Electronic Services Portal (the "eSAMA portal" or "the Portal"), we present below, according to the detailed specifications:

About the Portal The Portal aims to digitize the Saudi Central Bank's services, thereby enhancing efficiency and effectiveness, improving beneficiaries' experience, facilitating operations for financial institutions under the Central Bank's supervision and regulation, and covering three categories: (eSAMA Individuals, eSAMA Businesses, eSAMA Government). It includes a number of electronic services provided to financial institutions, including but not limited to: submitting and processing requests for obtaining the Central Bank's No Objection Certificate (NOC) for appointment to leadership positions, and NOC for launching products and services.

Portal Launch Date The Portal is expected to be launched during the first quarter of 2025. Electronic services provided through it will gradually replace and stop accepting written requests, with the Central Bank announcing the specific discontinuation dates for written request submissions for each service.

Portal Utilization Mechanism Access to the Portal is through its webpage on the Saudi Central Bank's official website, with user authentication via the Unified National Access service ("Nafath"). The webpage link will be shared upon the Portal's launch.

Requirements Accordingly, and given the need for a primary user to oversee the adoption of requests, we wish to clarify that the Chief Executive Officer (or equivalent) of a financial institution shall serve as the Portal's Primary User. Their data will be automatically retrieved and identified through the linkage between the Saudi Central Bank and the Ministry of Commerce. Therefore, financial institutions must observe the following mechanisms:

  1. Verify the existence of necessary statutory powers for the designated executive officer in the Commercial Register to use the Portal and represent the financial institution in all requests submitted through it.
  2. Ensure the designated executive officer has the necessary powers in the Commercial Register to delegate authority to other institution employees for communication and submitting requests for available services via the Portal.
  3. Continuously verify updates to the Commercial Register data, and immediately communicate in writing with the Saudi Central Bank regarding any deficiencies or amendments to the financial institution's status within the Portal.
  4. Submitting requests for services through the Portal does not exempt financial institutions from any requirements stipulated in related systems, regulations, and circulars issued by the Saudi Central Bank. For example, obtaining approval from the financial institution's Board of Directors (or equivalent) for certain requests remains mandatory, with such approvals attached to each individual request when using the Portal.
  5. The Board of Directors (or equivalent) of a financial institution bears responsibility for the requests submitted through the available services in the Portal.
  6. The Chief Executive Officer (or equivalent) of a financial institution is responsible for managing and governing user permissions within the Portal on behalf of the institution, including but not limited to revoking access in cases of resignation.

This is to inform you that the Saudi Central Bank will launch the Portal during the first quarter of 2025, in preparation for your awareness and compliance as of that date. Should you have any inquiries regarding this circular or the Portal, please contact the following digital service email: (SA.GOV.SAMA@DigitalServices). In case technical support is needed when using the Portal, please contact the following digital service email: (SA.GOV.SAMA@SAMASD) or the unified number (0114662333). Yours sincerely,

P.O. Box 2992, Riyadh 11169 Kingdom of Saudi Arabia W.W.W.SAMA.GOV.SA

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