Launching the Electronic Agencies Service

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In the name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority
Headquarters

Banking Policy Administration

Reference: 18626/67
Date: 24/03/1440 AH
Attachments: None

Circular

To the Esteemed,

Peace, mercy and blessings of Allah be upon you,

Subject: Launching the "Electronic Agencies" Service.

Reference is made to the letter from His Excellency the Minister of Justice, No. 40/748034, dated 3/3/1440 AH, which highlights the Ministry's efforts to develop and improve the quality of services provided to beneficiaries and enhance their reliability, thereby supporting the Ministry's objectives in the electronic transformation of documentation services.

We inform you that the Ministry of Justice launched the Electronic Agency service on Sunday, corresponding to 10/3/1440 AH. This service enables beneficiaries to issue agencies electronically without the need to visit notary offices or notaries. Furthermore, the issuance of paper deeds for agencies has been canceled, with their information retained electronically and made available for verification through the Ministry's website. Additionally, the "Wathiqa" service provided by Thiqah Business Services Company enables electronic verification of agencies, in alignment with the E-Transactions Law issued by Royal Decree No. (M/18) dated 8/3/1428 AH and its executive regulations.

We hope for your compliance with accepting electronic agencies and verifying them through the available means mentioned above.

Accept my greetings and appreciation,

Fahad bin Ibrahim Al-Shathri
Deputy Governor for Supervision

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Distribution Scope:

• Banks operating in the Kingdom.
• Insurance and reinsurance companies, as well as free profession companies related to insurance and/or reinsurance operating in the Kingdom.
• Financing companies operating in the Kingdom.
• Exchange companies operating in the Kingdom.

P.O. Box 2992 Riyadh 11169, Telegram: Markazi, Telex: 404400, Phone: 4633000, Fax: 4662414 ---