Electronic Services from (Elm-NIC) for KYC

In the Name of Allah, the Most Gracious, the Most Merciful Saudi Central Bank (SAMA) Headquarters

General Directorate of Banking Supervision

Reference No.:
Enclosures:

Circular

Reference No.: 391000006561
Date: 1439/01/19
Enclosures:

His Excellency,

With regards,

Subject: The Approved Electronic Services for Identity Verification.

With reference to the Bank's Circular No. 37100018071 dated 1437/02/12H and Circular No. 381000025290 dated 1438/03/06H regarding the use of the approved electronic service from the National Information Center (Elm-NIC) to verify customer identities electronically.

The Bank wishes to confirm that utilizing the aforementioned electronic services enhances the support and effectiveness of the supervisory process within the banking sector, ensures security requirements, and enables continuous monitoring to receive appropriate immediate alerts promptly upon any changes in customer data. Furthermore, the need for customers to visit the bank to verify identity copies upon renewal or account updates is eliminated if the bank verifies identity information using the aforementioned electronic services. Banks must comply with all other regulatory requirements, assess risks, and determine whether additional documentation is necessary.

For your information and action.

Yours sincerely,

Ahmed bin Abdullah Al-Sheikh
Deputy Governor for Banking Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Central Telegram: 404400, Telephone: 4662525, Fax: 4662671