Utilization of the Services of the General Authority for Awqaf to Verify the Beneficial Owner Data

Saudi Central Bank SAMA Saudi Central Bank
Number: 482008.0.22
Date: 29/01/1448 AH
Attachments: None.
Saudi Central Bank
Circular
Dear Sirs,
Peace, mercy, and blessings of God be upon you.
Subject: Utilization of the Services of the General Authority for Awqaf to Verify Beneficial Owner Data.
I refer to the powers of the Saudi Central Bank to issue instructions related to financial institutions under its supervision, based on the provisions of its system issued by Royal Decree No. (M/63) dated 11/04/1442 AH, and to the Executive Regulations of the Anti-Money Laundering Law issued by virtue of the Presidency of State Security Resolution No. (14525) dated 20/09/1439 AH, and the obligations contained therein for financial institutions to apply due diligence measures, especially with regard to identifying and verifying beneficial owner data. We inform you that the General Authority for Awqaf has made available a number of channels that enable financial institutions to access beneficial owner data related to Awqaf, through one of the following channels:
Technical integration and linkage with the Authority's technical systems, by communicating with the Data Management Office via email (DMO@awqaf.gov.sa) and requesting beneficial owner data sharing forms and their approval by the financial institution and the Authority. The Awqaf Certificate verification service available on the Authority's website. Access to the list of all registered Awqaf available to the public on the Authority's website. Accordingly, the Central Bank emphasizes the necessity of utilizing the channels mentioned above to verify beneficial owner data related to Awqaf, and to notify the Authority of any cases where discrepancies in beneficial owner data are observed based on the results of due diligence measures applied by the financial institution, using the specific form for reporting beneficial owner data discrepancies available on the Authority's website, without prejudice to the requirements for reporting suspicious transactions contained in the relevant laws and regulations, and without violating the provisions of the Personal Data Protection Law, its executive regulations, and instructions issued by the Central Bank. The Central Bank should also be notified of any challenges encountered in the service via the email address of the Financial Integrity General Department (FIGD@SAMA.GOV.SA). For your information and action from the date of its publication on the Central Bank's website. Sincerely, Abdullah bin Saleh Al-Humaid Deputy Governor for Financial Conduct Distribution Scope:
All financial institutions subject to the supervision and oversight of the Saudi Central Bank.
P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966114633000