Following SAMA's Circular No. 361000048994 dated 29/03/1436H, supplementary to Circular No. 18000/BCI/9200 dated 04/04/1433H, regarding the Rules Governing the Opening of Bank Accounts and General Operational Guidelines in Saudi Arabia, Fourth Amendment, and the amendment of the requirements of Rule No. (300-1-5-2) related to the accounts of "Public Benefit Charities and Da'wah Offices. Referring to the aforementioned rule, along with Rule No. (300-1-5-3) regarding the accounts of "Private Foundations licensed by the Ministry of Social Affairs," and Rule No. (300-1-5-6) related to the accounts of "Cooperative Associations and Funds."

I would like to inform you that SAMA has received a letter from His Excellency the Minister of Social Affairs No. 115433 dated 21/12/1436H referring to the esteemed Cabinet Decision No. (221) dated 25/07/1432 H regarding the independence of the Social Development Agency from the Social Welfare and Family Agency, according to which the Ministry's Social Development Agency supervises the activities of charitable societies, cooperative societies, charitable institutions, and community development committees through the 41 Social Development Centers in the Kingdom, and accordingly these centers are authorized to delegate individuals to sign, open, activate, and manage the accounts of charitable societies, cooperative societies, charitable institutions, and community development committees. They also have the authority to approve the election, formation, reformation, and extension of the boards of directors of these entities. The Ministry wishes to formalize this regarding the organization of opening and managing accounts for the aforementioned benefit entities.

We hope to take note and approve the acceptance of submissions from the Social Development Centers in the Kingdom (as specified in the attached list) when fulfilling the requirements of the three rules referred to above concerning requests to open accounts for charitable and cooperative entities subject to the supervision of the Ministry of Social Affairs and the delegation of individuals authorized to sign on them, as well as the approval of the formation, reformation, and extension of the boards of directors of those entities. The Social Development Centers should be considered the authorized entity supervising those requirements.