Verification of Academic and Professional Certificates of the Banking Sector Employees

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

Saudi Central Bank
Head Office

Banking Policies Department

No.: 391000043836
Date: 1439/04/16
Attachments:

Circular

To: .................................................................................................
Respected,

Greetings,

Subject: Verification of Academic and Professional Certificates for Banking Sector Employees.

Reference is made to the Penal System for Forgery Crimes issued by Royal Decree No. (M/11) dated 18/02/1435 AH, and to the importance of attracting skilled professionals and technical expertise to enhance the efficiency of the banking sector. Since the use of forged certificates is a penal offense that affects the efficiency and credibility of certificate holders, and given the need to verify documents and records submitted to banks to ensure the credibility and accuracy of the information contained therein, and to limit the use of forged certificates, banks and financial institutions should follow the following mechanism for certificate verification:

• Verify the authentication of academic certificates issued outside the Kingdom of Saudi Arabia by having the certificate authenticated by the issuing authority (the educational institution) with an official seal, and subsequently authenticated by a government entity, such as the Ministry of Foreign Affairs or the Ministry of Education if the holder is a citizen of the issuing country, or authenticated by the Cultural Attaché at the certificate holder's embassy if the holder is not a citizen of the issuing country.
• Verify the authentication of professional certificates via the electronic website of the issuing authorities, if available, or through direct communication with the issuing authorities via email.
• Verify through intermediary bodies that conduct verification operations for the credibility of academic or professional documents and certificates issued by various educational institutions and professional communities to ensure the validity and suitability of the documents. Examples of such bodies include:

• Global Verification Services, Inc.
• Verification Services Inc.
• Global Verification Network.
• Dataflow Group.
• EY.
• ASI.

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

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

Saudi Central Bank
Head Office

Banking Policies Department

Date: .................................
Corresponding Gregorian Date: .................................

No.: .................................
Attachments: .................................

Accordingly, the Authority emphasizes that banks and financial institutions must not hire staff until after verifying the authentication of academic certificates and professional certificates, while granting a grace period to Saudi nationals and those treated as such under the Labor System to submit the required documents. For expatriates, the authentication of academic certificates and verification of professional certificates remain a fundamental prerequisite before employment. Furthermore, files for current employees must be corrected and deficiencies completed within one year from the date of this circular, with emphasis on the necessity to comply with appointment requirements for leadership positions.

Please accept my regards,
Endorsed

(Signature)
Ahmed bin Abdullah Al-Sheikh
Deputy Governor for Supervision

Distribution Scope:

• Local banks and branches of foreign banks operating in the Kingdom.

Al Mohsen

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