Governing Rules for Electronic Issuance and Authenticity Verification of Banking Documents

(First Edition – Jumada al-Akhirah 1443 AH / January 2022 CE)

Important Note:

To keep pace with updates and amendments regarding instructions issued by the Saudi Central Bank, the Bank emphasizes the necessity of always relying on the versions published on its website: www.sama.gov.sa

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Table of Contents

Page Number	Chapter
3	Chapter One: Introduction and Definitions
3	Chapter Two: Issuance and Verification
4	Chapter Three: Banking Documents
5	Chapter Four: Final Provisions

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Chapter One

Introduction and Definitions

First / Introduction:

These Rules aim to develop the electronic services provided to banking sector clients, and improve their quality and effectiveness in accordance with best practices; thereby ensuring the facilitation of financial transactions by saving time and effort in obtaining banking documents and certificates, and instilling confidence in the validity of documents issued electronically.

Second / Definitions:

The following terms, wherever they appear in these Rules, have the meanings indicated next to each of them, unless the context dictates otherwise:

• Central Bank: The Saudi Central Bank.
• Rules: Governing Rules for Electronic Issuance and Authenticity Verification of Banking Documents.
• Bank: Banks and financial institutions licensed to conduct banking business in accordance with the provisions of the Banking Control Law.
• Banking Documents: Documents or certificates issued by banks upon the client's request to achieve various purposes.

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Chapter Two

Issuance and Verification

First / Issuance of Banking Documents:

1. The Bank should rely on technical systems to process customer requests for the issuance of all banking documents.

2. The Bank must make the electronic issuance of banking documents available in Arabic, and in English at the customer's request.

3. The Bank must ensure that the service of issuing banking documents electronically meets the following:

   3.1 Compliance with technical requirements and provisions contained in relevant systems and regulations – including, by way of example and not limitation – the Personal Data Protection Law, the Electronic Transactions Law, the Information Security Regulatory Guide, the Business Continuity Regulatory Guide, and any instructions issued by the Central Bank or relevant authorities.

   3.2 Inclusion in the banking documents of a statement confirming the protection and confidentiality of the information contained therein and the responsibility of the holder to maintain it.

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Second / Electronic Verification of the Authenticity of Banking Documents:

6. The Bank must make the electronic verification service available for all banking documents issued by it (whether electronically or in paper form).

7. The Bank must include in the banking documents issued by it an explanation of the means by which electronic verification is performed.

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Chapter Three

Banking Documents

8. The documents listed in this Chapter constitute the minimum number of documents required for the Bank to issue, taking into account the purpose stated next to each of them in case of differences in their names, as follows:

Document	Description
Bank Certificate	Proof of an existing relationship between the Bank and the client, including the account number, its opening date, and the total balance as per the client's request.
Proof of Indebtedness	A document indicating the existence of a debt owed by the client to the Bank, its amount, and the remaining balance.
Account Statement	A statement of the account balance and the transactions affecting it during a period specified by the client.
Discharge Letter	A document in which the Bank acknowledges that the client has no financial obligations towards it.
Certificate of International Account Number (IBAN)	Proof of the client's International Account Number (IBAN).

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Chapter Four

Final Provisions

9. These Rules do not derogate from the provisions contained in relevant instructions and any subsequent updates thereto.
10. The Bank must comply with the issuance of banking documents within the timeframes specified by relevant instructions of the Saudi Central Bank, with clarification to the client of the time taken to issue the banking document upon request.
11. The Bank must put in place procedures and measures that ensure compliance with these Rules.
12. The Bank must raise awareness among clients regarding the mechanism for issuing banking documents and verifying their authenticity electronically.
13. The Bank must periodically review the banking documents most in demand by clients; to prioritize making the electronic issuance service available for them.