1. Electronic Record
For the purpose of setting up a unified electronic database for bank accounts, all banks shall establish an electronic registration system in accordance with the classification set forth in Appendix (C) and its updates and based on the information provided in the approved IDs. This system serves as an electronic record, and should include the requirements provided in the paragraphs below as well as the detailed requirements provided in Chapters III and IV herein, as a basis for opening, operating, and following up bank accounts.
1.1 Saudi Natural Persons
- Banks must have in place an electronic record for all Saudi nationals having, as a minimum, the following:
a. The full name (first, second, third and family name) as shown in the ID.
b. ID number.
c. ID expiry date.
d. National address and contact information.
e. Employer (if any).
- Information used shall be based on the national ID, family register for minors, or birth certificate for people of special circumstances staying at housing centers of the Ministry of Human Resources and Social Development and shall be obtained from reliable sources.
1.2 GCC Natural Persons
- Banks must maintain an electronic record for all GCC nationals having, as a minimum, the following:
a. The full name as shown in the national ID.
b. National ID number.
c. National ID expiration date.
d. Nationality.
e. Address and contact information.
f. employer (if any).
- Information shall be obtained from the national ID and from reliable sources.
1.3 Non-Saudi Natural Persons
- Banks must maintain an electronic record for all non-Saudi natural persons having, as a minimum, the following:
a. The full name as in the passport or Iqama and in the same language according to the following priority (Arabic - English- Latin alphabets). If the name is in any other language, the name provided in the entry visa granted by Saudi embassies and consulates should be used.
b. Nationality.
c. Iqama No. and validity date.
d. National address and contact information.
e. Employer (if any).
- For persons holding Iqama cards with five-year validity period that is given to some tribe members, the full name, number and validity date of the card shall be written.
- No accounts may be opened for expatriates holding Saudi passports except with the approval of the Ministry of Interior through SAMA.
1.4 Juristic Persons
- Banks must maintain an electronic record for all juristic persons having, as a minimum, the following:
a. The official full name of the juristic person as per official documents.
b. Commercial register number or license number if the activity does not require a CR, (if the account is opened for the main commercial register, the main commercial register number shall be written. However, it the account is opened for a subsidiary commercial register, the subsidiary commercial register number shall be written. The main commercial register accounts shall be electronically linked with the subsidiary commercial register accounts).
c. The ID numbers of the owners as indicated in the last update of memorandum of association and persons authorized to manage the accounts (owners of joint stock companies are exempted from providing their ID numbers).
d. Signature of the person authorized to manage the account.
e. The national address of the juristic person.
f. Tax No. (if any).
g. Legal Entity Identifier (if any).
- For accounts opened pursuant to official approvals or applications, the reference number, date and name of body issuing such approval or making such application shall be recorded.