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300.1.5 Rules for Non-Profit Sector, Hajj and Umrah Entities, and Public Entities
The bank may open accounts for non-profit sector, Hajj and Umrah entities, and public entities upon fulfilling the requirements set forth for each activity as outlined below. Only residents in Saudi Arabia are allowed to operate the accounts of these licensed entities, with the exception of individuals authorized to operate Hajj and Umrah accounts as per Rule (300.1.5.1). Copies of the IDs of such persons must be obtained for account opening.

300.1.5.1 Hajj, Umrah and Visiting the Prophet’s Mosque in Madinah

This rule has been amended according to the circular No. (46032385), Dated 29/05/1446H, corresponding to 30/11/2024G.

• Pilgrim affairs offices:

a. Requirements for opening a bank account:

1.	Bank accounts shall be opened in Saudi riyal only.
2.	The Hajj organizer shall present to the bank a letter from the Saudi Ministry of Hajj and Umrah approving opening a bank account for the pilgrim affairs office and including the office’s information as follows:
	■	The official name of the pilgrim affairs office.
	■	Names of the persons authorized to sign for the account (joint signature), provided that they shall be members of the pilgrim affairs office or shall be officials in the embassy of the country of such office.
	■	The position of each account signatory and his/her information as per his/her passport.
	■	The bank account shall be limited to Hajj purposes only.
	■	The office’s bank account number in its home country or in the country designated by the Saudi Ministry of Hajj and Umrah ,and the name of the bank transferring the money, which the office deals with in its home country or in the country designated by the Saudi Ministry of Hajj and Umrah, shall also be stated.
3.	The bank shall conclude an account opening agreement with the authorized signatories specified in the letter of the Ministry of Hajj and Umrah, addressed to the bank.
4.	The account signatories shall determine, in Saudi riyal, the approximate total amount that their respective office will transfer for Hajj purposes.
5.	Upon meeting the above requirements by the bank, the bank’s compliance department shall submit an application to SAMA along with all necessary documents to obtain SAMA approval for opening the bank account.
6.	The bank shall ensure that such accounts are subject to dual control.
7.	The bank shall provide the pilgrim affairs office and the Saudi Ministry of Hajj and Umrah with the IBAN number of the office’s bank account.
8.	If the requirements for opening a bank account are not met, the bank branch manager must inform the applicant of the necessary requirements for opening a bank account. Such process shall be documented in a special file designed for this purpose in the bank branch. In addition, measures taken in this regard shall be reported to the compliance department at the head office of the bank on the same day.
9.	If the requirements for opening a bank account are met, the documents shall be submitted on the same day to the compliance department at the bank’s head office. Consequently, the compliance department, in turn, shall submit such documents to SAMA on the same day or at the beginning of the following working day, at the most.
10.	The pilgrim affairs office may open multiple accounts, provided that these accounts are opened in the same bank only - with an explanation of the account's purpose -, The office may not open other accounts in other banks. If the office requests to transfer its accounts from one bank to another, it shall provide compelling justifications that are not related to meeting the requirements. Approval of the Ministry Hajj and Umrah and SAMA for that matter shall be secured.

b. Requirements for account operation and management:

1.	The account shall be operated under a new approval letter from the Saudi Ministry of Hajj and Umrah to the bank on the account operation. The letter should specify the operation period, which should be from the beginning of Rabi II up till the end of Muharram of the following year. The letter shall be accompanied by a list provided by the pilgrim affairs office. This list shall include the names of Saudi natural persons, companies and establishments that the office will be dealing with for petty expenses, and it shall be attested by the Saudi Ministry of Hajj and Umrah.
2.	Deposits shall be made in the accounts of the pilgrim affairs office via remittances from a bank in the office’s home country or countries designated by the Saudi Ministry of Hajj and Umrah, the purpose of such remittance shall be specified as “office’s expenses related to Hajj only”.
3.	Deposits may be made in the account via checks under collection, drawn by the office itself on a bank in the office’s home country only.
4.	Remittances, checks or cash deposits from entities inside Saudi Arabia shall not be accepted, except in the following cases:
	■	By persons whose names are included in the list, submitted in advance to the Saudi Ministry of Hajj and Umrah by the pilgrim affairs office and attached to the ministry's letter to the bank. Such list should include the names of service providers dealing with the pilgrim affairs office. The amounts of such remittances, shall be less than or equal to the amounts stated in contracts concluded with each beneficiary (at the Saudi Ministry of Hajj and Umrah’s discretion).
	■	By authorized persons, provided that such an amount is within normal limits, i.e. is less than or equal to the withdrawn amount as petty expenses (at the Saudi Ministry of Hajj and Umrah’s discretion).
	■	The amounts (in SAR/foreign currencies) disclosed at ports of entry (land ports, seaports, or airports) shall be delivered to the bank branch at the port or the bank representative in the seasonal office at the port as per a document from the Saudi Zakat, Tax, and Customs Authority. Such document shall include the name of the pilgrim affairs office and its account number (IBAN) in Saudi Arabia, as well as the name of the cash carrier and a copy of his/her passport. The bank employee shall give the depositor a deposit or transfer receipt attested by the bank.
5.	Transfers from the office’s account to the electronic pathway of the Ministry of Hajj and Umrah are made for services contracted through the electronic pathway. Direct transfers from the office’s account in its country—or in countries designated by the Saudi Ministry of Hajj and Umrah—to the electronic pathway account of the Saudi Ministry of Hajj and Umrah for external pilgrims are allowed for contracting purposes related to Hajj arrangements and any other purposes specified by the Saudi Ministry of Hajj and Umrah, in compliance with all requirements stated in this rule.
6.	The organizer may pay authorized signatories by checks for petty expenses (within the estimated amounts approved by the Saudi Ministry of Hajj and Umrah).
7.	The approval of the bank’s compliance department is required for the operation of the office’s account.
8.	The office shall not use its account balances for investments.

c. Operating the pilgrim affairs office’s account after Hajj season:

1.	At the end of the Hajj season (end of Muharram), amounts left in the account of the pilgrim affairs office shall be returned to a bank in the office’s home country or to a bank in one of the countries designated by the Saudi Ministry of Hajj and Umrah in case they were the source of these funds at the request of the authorized persons in the office. Such a request shall be indicated in the bank account opening agreement signed by the office.
2.	If the office wants to keep the balance in the same account to be used in the subsequent Hajj year, the account will be frozen at the end of Muharram until the beginning of the subsequent Hajj season (which is to be specified by the Ministry of Hajj and Umrah).
3.	In exceptional cases, operating the account of the pilgrim affairs office may be allowed during the period in which using the account is originally prohibited, provided that the bank obtains SAMA written approval therefor.

d. Reactivating and operating the pilgrim affairs office’s account in the following Hajj year:

To reactivate the pilgrim affairs office’s bank account in the following Hajj year, the bank shall obtain a letter from the Ministry of Hajj and Umrah, including the same information specified in the form filled out by the ministry when it first approved the account opening. In particular, the information should include the names of authorized persons and their information. The approval letter should be obtained along with the list provided by the pilgrim affairs office for the Ministry of Hajj and Umrah, stating the parties that the office has contracted with in the Hajj year and that the office will write checks and make payments for. This list shall be attested by the Ministry of Hajj and Umrah.

• Tourism companies and travel agencies organizing pilgrim arrival from outside Saudi Arabia:

a. Requirements for opening a bank account:

1.	Bank accounts shall be opened in Saudi riyal only.
2.	The Hajj organizer shall present to the bank a letter from the Ministry of Hajj and Umrah approving opening a bank account for the pilgrim affairs office and including the office’s information as follows:
	■	Official name of the organizer (tourism company, agency or association approved to organize pilgrims’ arrival) in Arabic and English.
	■	The computer number given to the organizer by the Ministry of Hajj and Umrah.
	■	Name(s) of person(s) authorized to manage the bank account, provided that they are officials in the tourism company, agency or association approved to organize for pilgrim arrival. Full names shall be written in English and Arabic as shown in their passports, along with their passport number.
	■	The authorized person’s title shall be a “Hajj organizer".
	■	The bank account shall be limited to Hajj purposes only.
	■	The organizer’s bank account number in its home country or or in the country designated by the Saudi Ministry of Hajj and Umrah, shall be specified, as well as the name of the bank transferring funds, which the organizer deals with in its home country or in the country designated by the Saudi Ministry of Hajj and Umrah.
3.	A copy of the organizer’s commercial register and/or license issued for the organizer in its home country shall be submitted. Such commercial register and/or license shall be attested by the concerned Saudi embassy and/or the Ministry of Foreign Affairs.
4.	The bank must obtain copies of the passports of person(s) authorized to operate the bank account for dual control.
5.	The bank shall conclude an account opening agreement with the authorized signatories.
6.	The organizer shall determine, in Saudi riyal, the approximate total amount that it will transfer for Hajj purposes.
7.	Upon meeting all the above requirements by the bank, the bank’s compliance department shall submit an application to SAMA along with all necessary documents to obtain SAMA approval for opening the bank account.
8.	The bank shall ensure that such accounts are subject to dual control.
9.	The bank shall provide the organizer and the Ministry of Hajj and Umrah with the IBAN number of the organizer's account on a form designed for this purpose.
10.	If the requirements for opening a bank account are not met, the bank branch manager must inform the applicant of the necessary requirements for opening a bank account. Such process shall be documented in a special file designed for this purpose in the bank branch. In addition, measures taken in this regard shall be reported to the compliance department at the head office of the bank on the same day.
11.	If the requirements for opening a bank account are met, the documents shall be submitted on the same day to the compliance department at the bank’s head office. Consequently, the compliance department, in turn, shall submit such documents to SAMA on the same day or at the beginning of the following working day, at the most.
12.	Where all requirements are met, the period for opening a bank account shall not exceed two working days.
13.	The Hajj organizer may open multiple accounts, provided that these accounts are opened in the same bank only - with an explanation of the account's purpose - The organizer may not open other accounts in other banks. If the organizer requests to transfer its accounts from one bank to another, it shall provide compelling justifications that are not related to meeting the requirements. Approval of the Ministry Hajj and Umrah and SAMA for that matter shall be secured.

b. Requirements for account operation and management:

1.	The account shall be operated under a new approval letter from the Ministry of Hajj and Umrah to the bank on the account operation. The letter should specify the operation period, which should be from the first day of Rabi I up till the last day of Muharram of the following year. The letter shall be accompanied by a list provided by the Hajj organizer. This list shall include the names of Saudi natural persons, companies and establishments that the organizer will be dealing with for petty expenses, and it shall be attested by the Ministry of Hajj and Umrah.
2.	Deposits shall be made in the account of the Hajj organizer via remittances from a bank in the organizer’s home country or countries designated by the Saudi Ministry of Hajj and Umrah, the purpose of such remittance shall be specified as “organizer’s expenses related to Hajj only”.
3.	Deposits may be made in the account via checks under collection, drawn by the organizer itself on a bank in the organizer’s home country only.
4.	Remittances, checks or cash deposits from entities inside Saudi Arabia shall not be accepted, except in the following cases:
	■	By persons whose names are included in the list, submitted in advance to the Ministry of Hajj and Umrah by the organizer and attached to the ministry's letter to the bank. Such list should include the names of service providers dealing with the organizer. The amounts of such remittances, checks or cash deposits shall be less than or equal to the amounts stated in contracts concluded with each beneficiary (at the Saudi Ministry of Hajj and Umrah’s discretion).
	■	By authorized persons, provided that such an amount is within normal limits, i.e. is less than or equal to the withdrawn amount as petty expenses (at the Saudi Ministry of Hajj and Umrah’s discretion).
	■	The amounts (in SAR/foreign currencies) disclosed at ports of entry (land ports, seaports, or airports) shall be delivered to the bank branch at the port or the bank representative in the seasonal office at the port as per a document from the Saudi Zakat, Tax, and Customs Authority. Such document shall include the name of the organizer and its account number (IBAN) in Saudi Arabia, as well as the name of the cash carrier and a copy of his/her passport. The bank employee shall give the depositor a deposit or transfer receipt attested by the bank.
5.	Transfers from the office’s account to the electronic pathway of the Ministry of Hajj and Umrah are made for services contracted through the electronic pathway. Direct transfers from the office’s account in its country—or in countries designated by the Saudi Ministry of Hajj and Umrah—to the electronic pathway account of the Saudi Ministry of Hajj and Umrah for external pilgrims are allowed for contracting purposes related to Hajj arrangements and any other purposes specified by the Saudi Ministry of Hajj and Umrah, in compliance with all requirements stated in this rule.
6.	The organizer may pay authorized signatories by checks for petty expenses (within the estimated amounts approved by the Saudi Ministry of Hajj and Umrah).
7.	The approval of the bank’s compliance department is required for the operation of the organizer’s account.
8.	The organizer shall not use its account balances for investments.

c. Operating the organizer’s account after Hajj season:

1.	At the end of the Hajj season (end of Muharram), amounts left in the account of the organizer shall be returned to a bank in the office’s home country or to a bank in one of the countries designated by the Saudi Ministry of Hajj and Umrah in case they were the source of these funds at the request of the authorized persons. Such a request shall be indicated in the bank account opening agreement signed by the organizer.
2.	If the organizer wants to keep the balance in the same account to be used in the subsequent Hajj year, the account will be frozen at the end of Muharram until the beginning of the subsequent Hajj season (which is to be specified by the Ministry of Hajj and Umrah).
3.	In exceptional cases, operating the account of the organizer may be allowed during the period in which using the account is originally prohibited, provided that the bank shall obtain SAMA written approval therefor.

d. Reactivating and operating the organizer’s account in the following Hajj year:

To reactivate the organizer’s bank account in the following Hajj year, the bank shall obtain a letter from the Ministry of Hajj and Umrah, including the same information specified in the form filled out by the ministry when it first approved the account opening. In particular, the information should include the names of authorized persons and their information. The approval letter should be obtained along with the list provided by the organizer for the Ministry of Hajj and Umrah, stating the parties that the organizer has contracted with in the Hajj year and that the organizer will write checks and make payments for. This list shall be attested by the Ministry of Hajj and Umrah.

• Saudi establishments and companies organizing the arrival of Umrah performers and visitors of the Prophet's Mosque:

-	Documents required from those Saudi establishments are as specified in Rule (300.1.1) above.
-	Documents required from those Saudi companies are as specified in Rule (300.1.3) above.
-	All bank accounts of Saudi establishments and companies licensed to offer Umrah and holy site visit services shall be separated from one another, in that bank accounts designated for Umrah and holy site visit services shall be separate from other bank accounts designated for other activities and services. In addition, all bank transactions related to Umrah services shall be separate from those related to other services and activities that such establishments and companies may carry out.

300.1.5.2 Private Associations

This rule has been amended according to the circular No. (106878603), Dated 01/07/1446H, corresponding to 31/12/2024H. Please refer to the Arabic version of this rule to read the last updated version.

The bank may open accounts only in Saudi riyal for private associations. The requirements are as follows:

a. Requirements and controls for opening and managing main bank accounts:

- Requirements for opening main account:

1.	A copy of the registration certificate issued by the National Center for the Development of the Non-Profit Sector (NCNP) (the Center).
2.	A copy of the association's bylaws, approved by the Center.
3.	A copy of the decision to form the board of directors and appoint the officials, which is approved by the Center, along with the verification of the board members' identities.
4.	Copies of the IDs of persons authorized to operate and manage the account, and verification of their authorization by identifying them in the decision of the board of directors; such authorization shall allow for joint signature by two officials, and obtaining the approval of the Center when the authorized persons are from outside the board.
5.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.

- Controls for managing the main account:

1.	Cash donations or donations made via electronic channels may be accepted as long as these donations come from banking sources inside Saudi Arabia only, through which donor’s information can be retrieved.
2.	If disbursement is made by a check, the check shall be payable to the first beneficiary.
3.	ATM and/or credit cards shall not be issued for such accounts.
4.	No transactions (e.g. remittance, collection of checks, etc.) from the association’s accounts to any beneficiaries outside Saudi Arabia shall be made, except for transferring money for the purpose of managing the association’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after the bank obtains the official approval therefore from the Center (NCNP).
5.	Remittances or checks coming from outside Saudi Arabia to the association’s account at the bank -or coming to other banks operating in Saudi Arabia via the bank- shall not be accepted, unless official approval therefore is obtained from the Center (NCNP).
6.	Sub-accounts may be opened for investing the association’s funds in activities with financial returns that would help the association achieve its objectives. To do so, the bank must first obtain the association’s rules that govern the investment of its surplus funds, which are approved by its general assembly.

b. Requirements and controls for opening and managing sub-accounts:

Sub-accounts may be opened for the various purposes of the association, such as the collection of Zakat, as follows:

1.	Only the documents for opening and managing the main account shall be required.
2.	These accounts shall be used only for the purpose for which they were opened.
3.	Cash donations or donations made via electronic channels may be accepted as long as these donations come from banking sources inside Saudi Arabia only, through which donor’s information can be retrieved.
4.	In case there are branches of the association, one sub-account may be opened for each branch of the association, with the primary purpose being "Expenses-Branch Name", as follows:
	a.	A copy of the approval of the Center (NCNP) for establishing the branch for which a sub-account is to be opened.
	b.	A copy of the organizational structure decision for the branch and the names of the employees in its management, approved by the Center (NCNP), with Verifying their identities.
	c.	Copies of the IDs of persons authorized to operate and manage the bank account, and verification of their authorization by identifying them in the decision of the association's board of directors; such authorization shall allow for joint signature by two officials, and obtaining the approval of the Center when the authorized persons are from outside the board.
	d.	The sub-account shall be named “Branch of... Association/Office in (City)-Subaccount of Periodic Advance”.
	e.	Disbursements from the account shall be limited to the following:
		-	bank checks withdrawn only by the first beneficiary.
		-	Transfers made to the bank accounts of beneficiaries of charity inside Saudi Arabia only. The transfer forms shall be filled out by the persons authorized to sign for the advances’ account. In addition, the transfers shall be monitored by the bank to ensure that they go in line with the nature of the branch’s activities.
		-	Paying salaries of the association branch’s staff.
		-	Paying utility bills and government invoices.
	f.	ATM and/or credit cards shall not be issued for such accounts.
	g.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.
	h.	Cash donations or donations made via electronic channels may be accepted as long as these donations come from banking sources inside Saudi Arabia only, through which donor’s information can be retrieved.

300.1.5.3 Private Foundations

The bank may open accounts only in Saudi riyal for private Foundations. The requirements are as follows:

a. Requirements and controls for opening and managing main bank accounts:

- Requirements for opening main account:

1.	A copy of the registration certificate issued by the National Center for the Development of the Non-Profit Sector (NCNP) (the Center).
2.	A copy of the foundation's bylaws, approved by the Center.
3.	A copy of the trustee board formation decision and verifying the identities of the members.
4.	Copies of the IDs of persons authorized to operate and manage the bank account, and verification of their authorization by identifying them in the decision of the trustees board; such authorization shall allow for joint signature by two officials, and obtaining the approval of the Center when the authorized persons are from outside the board.
5.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.

- Controls for managing the main account:

1.	If disbursement is made by a check, the check shall be payable to the first beneficiary.
2.	ATM and/or credit cards shall not be issued.
3.	A prepaid card may be issued and funded based on the joint signature of the authorized persons on the account.
4.	The foundation is not allowed to accept gifts, bequests, donations, endowments, grants, or Zakat from parties other than the founders specified in its bylaws, unless the approval of the Center is obtained. Additionally, private foundations are not allowed to carry out any cash dealings.
5.	No transactions (e.g. remittance, collection of checks, etc.) to any beneficiaries outside Saudi Arabia shall be made, except for transferring money for the purpose of managing the foundation’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after the bank obtains the official approval therefore from the Center (NCNP).
6.	Remittances or checks coming from outside Saudi Arabia to the foundation’s account at the bank shall not be accepted, unless official approval therefore is obtained from the Center (NCNP).
7.	Sub-accounts may be opened for investing the foundation’s funds in activities with financial returns that would help the foundation achieve its objectives, after obtaining approval from the Board of Trustees.

b. Requirements and controls for opening and managing sub-accounts:

Sub-accounts may be opened for the various purposes of the foundation, as follows:

1.	Only the documents for opening and managing the main account shall be required.
2.	These accounts shall be used only for the purpose for which they were opened.
3.	In case there are branches of the foundation, one sub-account may be opened for each branch of the foundation, with the primary purpose being "Expenses-Branch Name", as follows:
	a.	A copy of the approval of the Center (NCNP) for establishing the branch for which a sub-account is to be opened.
	b.	A copy of the organizational structure decision for the branch and the names of the employees in its management, approved by the Center (NCNP), with Verifying their identities.
	c.	Copies of the IDs of persons authorized to operate and manage the account, and verification of their authorization by identifying them in the decision of the Board of Trustees of the Foundation; such authorization shall allow for joint signature by two officials, and obtaining the approval of the Center when the authorized persons are from outside the board.
	e.	Disbursements from the account shall be limited to the following:
		-	bank checks withdrawn only by the first beneficiary.
		-	Transfers made to the bank accounts of beneficiaries of material support inside Saudi Arabia only. The transfer forms shall be filled out by the persons authorized to sign for the expense sub-account. In addition, the transfers shall be monitored by the bank to ensure that they go in line with the nature of the branch’s activities.
		-	Paying salaries of the foundation branch’s staff.
		-	Paying utility bills and government invoices.
	f.	ATM cards and/or credit cards shall not be issued for such accounts.
	g.	A prepaid card may be issued and funded based on the joint signature of the authorized persons on the account.
	h.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.

Civil Society Organizations established pursuant to royal orders:

This rule has been added pursuant to the circular No. (450651330000), dated 14/10/1445H, corresponding to 22/04/2024G. Please refer to the Arabic version of this rule to read the last updated version.

Bank accounts may be opened for Civil Society Organizations established pursuant to royal orders as follows:
1.	A copy of the approval from His Majesty the King for the establishment of the civil society organization.
2.	A copy of the articles of association of the organization.
3.	A copy of the trustee board formation decision and verifying the identities of the members.
4.	Copies of the IDs of persons authorized to manage and operate the bank account, with verification of their authorization by identifying them in a decision by the Board of Trustees. The signature should be joint for two officials, unless the organization's articles of association state otherwise.
5.	Any transactions (e.g. remittance, collection of checks, etc.) outside Saudi Arabia may be made after verifying that these transactions align with the activity or main purpose for which the organization was established, as per its articles of association.
6.	No transactions (e.g. remittance, collection of checks, etc.) outside Saudi Arabia shall be made for an organization if it is evident that the transaction does not align with its activity or main purpose under its articles of association, except for transferring money for the purpose of managing the organization’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after obtaining approval from the National Center for Non-Profit Sector.

• Family funds:

This rule has been amended according to the circular No. (43074912), dated 26/08/1443H, corresponding to 29/03/2022G.and the circular No. (106878603), Dated 01/07/1446H, corresponding to 31/12/2024H. Please refer to the Arabic version of this rule to read the last updated version.

The bank may open accounts only in Saudi riyal for family funds. The requirements are as follows: a. Requirements and controls for opening and managing main bank accounts: Requirements for opening main account:
1.	A letter from the chairman of the trustee board of the family fund (or their authorized representative) to the bank in which the account is to be opened clearly indicating the purpose of opening the account.
2.	A copy of the registration certificate issued by the National Center for the Development of the Non-Profit Sector (NCNP).
3.	A copy of the fund's bylaws, approved by the Center.
4.	A copy of the trustee board formation decision approved by the Center, and verifying the identities of the members.
5.	Copies of the IDs of persons authorized to operate and manage the bank account, and verification of their authorization by identifying them in the decision of the trustees board and the approval of the Center. The signature should be joint for two officials.
	Controls for managing the main account:
1.	disbursement from the fund shall be in accordance with the methods and conditions stipulated in the fund's bylaws.
2.	The family fund may accept funds, gifts, bequests, Zakat and subscriptions (if any) from its founders and family members only, provided that the bank obtains a pledge from the chairman of the fund’s trustee board to comply with this requirement.
3.	No transactions (e.g. remittance, collection of checks, etc.) to any beneficiaries outside Saudi Arabia shall be made, except for transferring money for the purpose of managing the fund’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after obtains the official approval therefor from the Center.
4.	The family fund is allowed to invest its money according to the provisions stipulated in the fund’s bylaws.
5.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.
	b. Requirements and controls for opening and managing sub-accounts:

Sub-accounts may be opened for the various purposes of the fund, such as the collection of Zakat, as follows:

1.	Only the documents for opening and managing the main account shall be required.
2.	These accounts shall be used only for the purpose for which they were opened.
3.	Cash donations or donations made via electronic channels may be accepted as long as these donations come from banking sources inside Saudi Arabia only, through which donor’s information can be retrieved.
4.	In case there are branches of the fund, one sub-account may be opened for each branch of the fund, with the primary purpose being "Expenses-Branch Name", as follows:
	a.	A copy of the approval of the Center (NCNP) for establishing the branch for which a sub-account is to be opened.
	b.	A copy of the organizational structure decision for the branch and the names of the employees in its management, approved by the Center (NCNP), with Verifying their identities.
	c.	Copies of the IDs of persons authorized to operate and manage the bank account, and verification of their authorization by identifying them in the decision of the fund's Board of Trustees; such authorization shall allow for joint signature by two officials, and obtaining the approval of the Center when the authorized persons are from outside the board.
	d.	The sub-account shall be named “Branch of... Fund/Office in (City)-Subaccount of Periodic Advance”.
	e.	Disbursements from the account shall be limited to the following:
		-	bank checks withdrawn only by the first beneficiary.
		-	Transfers made to the bank accounts of beneficiaries of charity inside Saudi Arabia only. The transfer forms shall be filled out by the persons authorized to sign for the advances’ account. In addition, the transfers shall be monitored by the bank to ensure that they go in line with the nature of the branch’s activities.
		-	Paying salaries of the fund branch’s staff.
		-	Paying utility bills and government invoices.
		-	Prepaid cards and deposits may be issued, provided that their issuance is based on a joint signature from the authorized persons on the bank account, and that the prepaid card is funded with a joint signature from the authorized persons
	g.	Approval of the bank’s senior management to open the account in cases where required -in accordance with the provisions of the Guidance of Anti Money Laundering and Combating Terrorist Financing-.
	h.	Cash donations or donations made via electronic channels may be accepted as long as these donations come from banking sources inside Saudi Arabia only, through which donor’s information can be retrieved.

• Charitable activities of (civil and military) government bodies:

	The bank may open accounts only in Saudi riyal for charitable activities of (civil or military) government bodies. The following requirements and controls shall be met and applied:
1.	The bank shall obtain, through SAMA, the approval of the Ministry of Finance for opening a bank account or for maintaining the operation of an existing account, if the account’s funds (or part of them) are from public funds.
2.	The bank shall receive a request from the ultimate authority in the government body carrying out the charitable activity or the person he/she authorizes to open the account, if the account’s funds are not from public funds.
3.	The bank shall receive from the ultimate authority or his/her authorized representative a letter containing the names of the persons authorized to manage the bank account (by joint signature), provided that such authorized persons are Saudi employees of the same government body.
4.	Such government body shall not raise funds or accept donations, aids or gifts from anyone except from its staff.
5.	Deposits are accepted in cash, by checks, and through domestic direct transfer. In addition, deposits can be carried out using ATMs, Internet or credit cards. In all deposits, depositor’s information shall be obtained.
6.	No ATM cards and/or remittance membership shall be issued/granted for the account.
7.	The government body wishing to open such bank account shall undertake that the beneficiaries of such account are from its staff and their families.
8.	Disbursement from the account shall be made by checks payable to the first beneficiary, or via wire transfer from the main account to the first beneficiary’s account.
9.	Sub-accounts under the main account may be opened. Sub-accounts shall be used only for receiving deposits and making transfers to the main account. Checkbooks shall not be issued for such sub-accounts. Moreover, neither withdrawal nor transfer from these sub-accounts shall be allowed except to the main account.
10.	Approval of the manager of compliance department for opening the account shall be sought.

300.1.5.4 Public Welfare Committees (e.g. Committees of Patients’ Friends, Committees Caring for People with Disabilities or Blind People, Committees of Academic Excellence Awards, Charitable Warehouses Licensed by Regional Governors, and the Like)

-	The bank may open accounts for these committees only in Saudi riyal upon obtaining a copy of the committee’s license issued by the concerned official authority as per its jurisdiction, such as the Ministry of Education, the concerned emirate of the region, etc. Bank accounts for such committees shall be opened and managed under a joint signature of the committee chairman (or secretary) and its financial manager. Further, the bank shall obtain copies of the IDs of those two officials (the committee chairman/secretary and the financial manger), along with copies of the IDs of the members of the board of directors (or board of trustees). Copies of the bylaws of the committee/organization shall also be submitted to the bank. Approval of the manager of compliance department for opening the account shall be sought. Additionally, SAMA shall be informed about opening such accounts.
-	Bank accounts may be opened for annual or seasonal public welfare activities, such as festivals, celebrations and the like, whose funds are not from the state budget. In this case, the bank shall receive a formal request from the concerned official entity organizing such activity to open the bank account. Such bank account shall be opened and managed under a joint signature of the person authorized to manage the activity and the financial manager; copies of their IDs shall also be obtained. In addition, the bank shall obtain copies of the IDs of the activity committee members. Moreover, the validity period of the account shall be specified; after such period the account shall be closed. Further, approval of the manager of compliance department for opening the account shall be sought. SAMA shall be informed about opening the account.
-	Transferring funds from such accounts to parties outside Saudi Arabia is not permitted.

300.1.5.5 Bank Accounts for Collection of Shoppers' Donations of Remaining Halalas (Change) in Favor of Charities

1.	Donation collection service shall be restricted to commercial enterprises with commercial registers.
2.	Charities that can benefit from such voluntary donation shall be licensed to operate in Saudi Arabia, and its articles of association or bylaws shall permit collection of donations.
3.	No commercial enterprise shall be allowed to provide the voluntary donation service of remaining halalas (change) in favor of charities (whether societies, foundations, committees or others) wishing to receive such donations without official permission from the Ministry of Human Resources and Social Development or the authority supervising the charity.
4.	The supervisory authority's permission shall include (or have enclosed therewith) the license number for collection of donations and its validity period, as well as the name of the commercial enterprise and its commercial register number.
5.	Collection of donations of remaining halalas shall be subject to a two-party contract, i.e. a contract between the commercial enterprise collecting donations of remaining halalas and the charity receiving such donations. The contract shall state obligations of both parties, including that the commercial enterprise will not charge any fees for providing such service.
6.	The contract may be extended for more than one period with the consent of the authority supervising the charity. In this case, all previous licenses of donation collection and their related accounts shall be revoked or settled prior to granting renewal approval at the end of the financial year.
7.	Donations collected shall be submitted to the concerned charity by a crossed check or a bank transfer to its account at the end of each quarter of the Gregorian calendar year. In addition, the supervisory authority shall be furnished with copies of paid checks or bank transfer receipts.
8.	The commercial enterprise shall state in the crossed check or transfer slip the name or account number of the charity and that the amount presented is the donation of remaining halalas by shoppers.
9.	The halala-donation procedures, automatic system, and controls of the commercial enterprise shall consider the following:
	■	Using a separate special payment means (e.g. cash/sale points) for donation of halalas.
	■	Allocating a separate bank account under the name of the commercial enterprise with the clause "remaining halalas" for keeping amounts donated by costumers. This account shall include sub-accounts; each of which shall be designated for one charity with which the commercial enterprise has contracted.

300.1.5.6 Cooperative Associations and Funds

• Cooperative associations

a. Cooperative associations under establishment:

A Saudi Riyal trust account may be opened for a cooperative association under establishment for the purpose of capital raising. The following requirements shall be satisfied:
1.	The bank shall receive a letter from the competent authority at the Ministry of Human Resources and Social Development (MHRSD), stating that the cooperative association is under establishment and that the MHRSD agrees on opening an account for the association to raise its capital. The letter shall specify the name of the cooperative association under establishment and the name and ID number of the founding committee’s chairman, who is in charge of communicating with the bank for the account opening. In addition, a copy of the association’s preliminary memorandum of association shall be submitted to the bank with the letter.
2.	The trust account shall be opened only for six months. The bank may extend this period for another six months upon receiving a request from the concerned authority at the MHRSD.
3.	If the association is not registered and established within the period specified in Paragraph (2) above, amounts deposited in the trust account shall be returned upon the approval of the concerned authority at the MHRSD. The approval shall specify the method of returning such amounts and their recipient.
4.	If the association is registered and established, the bank shall fulfill the requirements of Paragraph (b) below and shall convert the trust account into a current account.

b. Licensed cooperative associations:

The bank may open a Saudi Riyal account for cooperative associations upon fulfilling the following conditions and requirements:
1.	Receiving a request of the association’s board chairman to open a bank account; the account to be opened shall be managed under a joint signature of the board chairman (or his/her vice-chairman) and the treasurer (principal signatory).
2.	Obtaining a copy of the association registration and establishment decision (the association registration certificate) issued by the MHRSD.
3.	Obtaining a copy of the entity’s board formation decision that is issued, approved or attested by the MHRSD.
4.	Obtaining a copy of the entity’s memorandum of association.
5.	Obtaining a copy of the entity’s bylaws.
6.	Obtaining copies of the board members’ IDs.

• Cooperative funds:

The bank may open accounts for the cooperative funds upon fulfilling the following conditions and requirements:
1.	Obtaining a copy of the decision allowing or approving the establishment of the fund, issued by the concerned minister, general director or sector head.
2.	Naming the fund after the organization establishing it.
3.	Ensuring that the account is opened and operated by the manager and treasurer of the organization that owns the fund.
4.	Obtaining a copy of the regulations governing the fund, issued by the concerned government body.
5.	Obtaining a copy of the regulations governing the fund, issued by the concerned government body.

300.1.5.7 Homeowners’ Associations/Housing Societies Licensed by the Real Estate General Authority

This rule has been amended according to the circular No. (42003746), Dated 22/01/1442H, corresponding to 09/09/2020G.

Banks may open bank accounts for homeowners’ associations/housing societies upon obtaining the following:
1.	A letter from the real estate manager requesting the opening of the account, including the names of those authorized to manage and operate the account, certified by the chairman of the association/society.
2.	A copy of the articles of association of the association/society.
3.	A copy of the association/society registration certificate issued by the Real Estate General Authority.
4.	Copies of the IDs of persons authorized to manage and operate the account.

300.1.5.8 Endowments and Bequests

This rule has been amended according to the circular No. (41042946), Dated 19/06/1441H, corresponding to 13/02/2020G.

Without prejudice to Rules (300.1.1) and (300.1.3), bank accounts shall be opened in Saudi Riyal for endowments and bequests as follows:

1. Endowments:

a.	Endowments under the administration of the General Authority for Awqaf:
	1.	A letter by the Governor of the General Authority for Awqaf, requesting the opening of a bank account under the name of “Revenues’’ shall be submitted. The persons authorized to operate the account shall be identified, and dual authorization shall be applied. The financial powers of or right to delegate for the persons authorized must be specified.
	2.	Copies of the IDs of persons authorized to operate the account shall be submitted.
b.	Endowments not under the administration of the General Authority for Awqaf:
	1.	The bank shall receive a copy of the valid endowment registration certificate issued by the General Authority for Awqaf, including at minimum, the following: name of endowment, endowment deed number and date, and names of administrators and their ID numbers.
	2.	A copy of the legal deed of the endowment shall be submitted.
	3.	A letter from the authorized signatory under the endowment deed, specifying the persons authorized to operate the account, shall be submitted.
	4.	Copies of the IDs of persons authorized to operate the account shall be submitted.
	5.	Copies of the IDs of administrators whose names are stated in the endowment registration certificate shall be submitted.
	6.	No transactions (e.g. remittance, collection of checks, etc.) from the endowment accounts to any beneficiaries outside Saudi Arabia shall be made, except for transferring money for the purpose of managing the association’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after the bank obtains the official approval therefor from the General Authority for Awqaf.
c.	Foreign endowments:
	1.	The bank shall receive a copy of the valid endowment registration certificate issued by the General Authority for Awqaf, including at minimum, the following: name of endowment, endowment deed number and date, and names of administrators and their ID numbers.
	2.	The bank shall receive a letter from the endowment administrator or agent (Saudi national), requesting the opening of a bank account. The letter shall be accompanied by a request from the authority responsible for endowments in the home country of the foreign endowment (or by a request from the ambassador of that country) and by the approval of the General Authority for Awqaf.
	3.	The bank shall receive a copy of the endowment’s legal deed stating that the property is allocated as Waqf (endowment) and registered with the competent authority in Saudi Arabia.
	4.	The bank shall receive a copy of the administration deed/power of attorney issued by the competent authority in Saudi Arabia, which provides for the full right to handle endowment and fulfill the donor's conditions. The administration deed does need to contain a provision for opening bank accounts, as the endowment administration includes this authority.
	5.	The bank shall receive a copy of the national ID of the endowment administrator/agent.
	6.	The bank account shall be in the name of the endowment as stated in the endowment deed and the registration certificate issued by the General Authority for Awqaf.
	7.	SAMA must be informed when the account is opened.
	8.	Withdrawal from this account shall be made by checks.
	9.	Transferring funds or issuing personal/bank checks from this account to beneficiaries outside Saudi Arabia shall not be allowed.
	10.	ATM cards and/or credit cards shall not be issued for such accounts.
	11.	Receiving remittances or checks from beneficiaries outside Saudi Arabia shall not be permitted without written approval from the General Authority for Awqaf.

2. Bequests:

1.	The bank shall receive a copy (or a certified copy) of the guardianship deed, which provides for the bequests.
2.	The bank shall receive a copy of the national ID of the trustee(s).
3.	The account shall be in the name of the bequest (Bequest of..).

300.1.5.9 Cultural, Sports and Social Clubs and Youth Hostels

• Sports clubs licensed by the General Sports Authority:

The bank may open Saudi Riyal accounts for sports clubs licensed by the General Sports Authority upon receiving the following documents:
	1.	The approval of the Ministry of Finance for opening the account.
	2.	A copy of the license issued by the General Sports Authority.
	3.	A copy of the decision to form the club’s board of directors.
	4.	A copy of the authorization letter by the board of directors (joint signature), allowing specific persons to open and operate the account.
	5.	Copies of the IDs of the authorized persons and board members.
	-	Bank accounts for contributions of the club's members of honor and fans may be opened without the approval of the Ministry of Finance. Such accounts may be opened in Saudi Riyal or foreign currencies, but they shall be separated from the government subsidy account.

• Youth hostels:

Requirements for the sports clubs licensed by the General Sports Authority shall also apply to youth hostels.

• Cultural and literary clubs supervised by the Ministry of Culture:

The bank may open Saudi Riyal accounts for cultural and literary clubs supervised by the Ministry of Culture upon receiving the following documents:
	1.	The approval of the Ministry of Finance for opening the account.
	2.	A copy of the license issued by the supervisory authority.
	3.	a copy of the decision to form the club’s board of directors;
	4.	The authorization letter by the board of directors, allowing specific persons to open and operate the account under a joint signature.
	5.	Copies of the IDs of the authorized persons and board members.

• Camel Club, and its branches and offices:

The bank may open Saudi Riyal accounts for camel club and its branches and offices upon receiving the following documents:
	1.	A copy of the decision to form the club’s board of directors, issued by the Council of Ministers.
	2.	A copy of the authorization letter by the board of directors, allowing specific persons to open and operate the account.
	3.	Copies of the authorized signatories’ IDs.
	4.	Copies of the board members’ IDs.
	5.	Payment from the main account shall be made only for the purposes for which the account was established.

300.1.5.10 Public Corporations and Public Sector Institutions

The bank may open accounts for public corporations and public institutions (see Appendix "B" for further information on such entities and their names) upon obtaining the following documents:
1.	A copy of the decision to form the entity’s board of directors, issued by the Council of Ministers.
2.	A copy of the authorization letter by the board of directors, allowing specific person(s) to operate the account, along with copies of those persons’ IDs and their specimen signatures.

300.1.5.11 Chambers of Commerce and Industry

The bank may open accounts for chambers of commerce and industry upon obtaining the following documents:
1.	A copy of the decision to form the chamber’s board of directors.
2.	A copy of the authorization letter by the board of directors, allowing specific person(s) to open and operate the account, along with copies of those persons’ IDs and their specimen signatures.

300.1.5.12 Building, Renovating or Expanding Small and Large Mosques

The bank may open bank accounts designated for building, renovating or expanding small or large mosques. The following requirements shall be fulfilled:
1.	The bank shall receive a letter from the Ministry of Islamic Affairs, Dawah and Guidance (MoIA) or any of its branches in the concerned region, requesting the opening of a bank account and indicating its purpose.
2.	The bank shall obtain a copy of the approval of the MoIA or any of its branches in the concerned region for building, renovating or expanding a small or large mosque.
3.	The bank shall obtain the decision made by the MoIA or any of its branches in the concerned region to form a committee to supervise the mosque construction, renovation or expansion process. The committee formed shall be chaired personally by the branch manager of the MoIA and include two members of the officials of MoIA branch in the concerned region.
4.	The account shall be named “Branch of the Ministry of Islamic Affairs, Dawah and Guidance in... (building, renovating or expanding) (name of the mosque)”.
5.	The account shall be operated personally by the manager of MoIA branch in the concerned region (principal signatory) with one or both of the committee members indicated above.
6.	The bank shall obtain copies of the IDs of committee members who are authorized to sign for the account.
7.	If funds are donations, the approval of the concerned authority shall be submitted.
8.	Disbursement from the account shall be made only by checks, under a joint signature. In addition, ATM cards and/or credit cards shall not be issued for this account.
9.	The account shall be valid for a period identical to the period specified by the MoIA for the mosque construction, renovation or expansion. Should there be a need to extend the validity period of the account, a letter to this effect shall be submitted to the bank by the MoIA or its concerned branch.
10.	If account funds are from the state budget, as per a request from the MoIA, the approval of the Ministry of Finance shall be communicated to the bank through SAMA.
11.	Approval of the manager of compliance department for opening the account shall be sought.

300.1.5.13 National Societies and Committees

The bank may open accounts for national societies and committees, such as the National Society for Human Rights and the National Prevention of Blindness Committee, upon completing the following:
1.	Receiving a request from the chairman of the society/committee for opening a bank account.
2.	Obtaining a copy of the royal approval or the resolution of the Council of Ministers, allowing the society or committee to exercise its activities.
3.	Obtaining a copy of the articles of association of the society/committee.
4.	Obtaining a copy of the society’s/committee’s regulations governing its financial affairs.
5.	Obtaining copies of the IDs of society’s/committee’s executive council members.
6.	The names of authorized signatories shall be determined by the chairman of the society/committee. The bank shall obtain copies of those signatories’ IDs and their specimen signatures. Such copies shall be attested as true copies of the original by both the society/committee and the bank. Changing the authorized signatories requires sending a letter from the chairman of the society/committee to the bank where the account is opened.
7.	Withdrawal from these accounts shall be as per dual control, and in case of withdrawal by checks, check shall be payable to the first beneficiary.

300.1.5.14 Trial and Enforcement Courts

This rule has been amended according to the circular No. (42036451), Dated 01/06/1442H, corresponding to 14/01/2021G.

Bank accounts for trial courts, such as commercial courts and family courts, may be opened for the purpose of managing the cases pending before such courts and for the enforcement courts for the purpose of depositing execution funds as follows:
1.	The bank shall receive a letter from the Deputy Minister of Justice for Enforcement or his authorized representative (for the bank accounts of enforcement courts), or a letter from the Deputy Minister of Justice for Judicial Affairs or his authorized representative (for the bank accounts of trial courts). The letter shall be addressed to the bank, requesting the opening of a bank account and stating the names of persons authorized to manage and operate the account under a joint signature (two signatories are required).
2.	The bank shall obtain copies of the authorized signatories’ IDs and their specimen signatures.
3.	The account shall be separate from other accounts of each court.
4.	Disbursement from the account shall be made by checks payable to the first beneficiary, by transfers to the collection accounts such as the account opened under the name “Ministry of Justice/Deputyship for Enforcement) and designated for receiving funds via SADAD system, or by transfers to beneficiaries’ accounts. Where checks are used, the purpose of the check and the case number and date shall be written on the check.
5.	ATM cards and/or credit cards shall not be issued for such accounts.
6.	Transferring funds from these accounts to beneficiaries outside Saudi Arabia shall not be allowed. The exception to this rule is when the beneficiary is a foreign (natural or legal) person residing outside Saudi Arabia and the approval of the concerned deputy minister or the chief judge is obtained for the transfer.

300.1.5.15 Property Conveyancing Processes

The bank may open collection accounts for the purpose of property conveyancing and for enforcement of related decisions. The following requirements and controls shall be met and applied:
1.	The bank shall receive a letter from the Minister of Justice or his delegate, specifying the names of persons (two as a minimum) authorized to manage the account under a joint signature.
2.	The account shall be named “Property Conveyancing for....”. The account shall also be separate from the accounts of the Ministry of Justice.
3.	The bank shall obtain copies of the authorized signatories’ IDs and specimen signatures.
4.	Bank transfers related to the electronic property conveyancing, whether made to the collection accounts opened under the name (Property Conveyancing) or to the accounts of beneficiaries, shall be made using electronic banking services. Withdrawal from the account shall be made only by checks payable to the first beneficiary. The purpose of the check and the ID number of the payee shall be written on the check.*
5.	ATM cards and/or credit cards shall not be issued for such accounts.
6.	Transferring funds from these accounts to beneficiaries outside Saudi Arabia shall not be allowed.

This paragraph has been amended by circular No. (42009020), dated 18/02/1442H, corresponding to 27/09/2020G.

300.1.5.16 Civil Rights–Personal Debt Settlement Account

Bank accounts in Saudi Riyal only may be opened for any verdict execution administrations, divisions or sections, or for rights units at police centers. The following requirements shall be fulfilled:
1.	The bank shall receive a letter from the head of the verdict enforcement administration, division or section, or from the head of the police center, requesting opening a bank account and specifying its purpose and authorized signatories.
2.	The account name shall be “the Ministry of Interior, Public Security, Verdict Enforcement Administration in … (Region/City/Governorate)-Personal Debt Settlement Account”.
3.	The account shall be operated under a joint signature of at least two persons. One of them shall be the head of the verdict enforcement administration, division or section (or the head of the police center) or his/her deputy. The other signatory shall be the treasurer or his/her deputy (principal signatory).
4.	The bank shall obtain copies of the authorized signatories’ IDs and their specimen signatures.
5.	Funds shall be deposited in the account only by the debtor, his/her family, and their representatives via the following means:
	■	Bank checks in the following form: “Pay to the order of Civil Rights Department in … Region/ City/Governorate-Personal Debt Settlement Account”. The purpose of the check shall be written on it as follows: “Repaying the debt of... (debtor’s name and national ID number), Case/Verdict/Resolution No. ... dated ...”.
	■	Bank transfers, provided that all the required information of the transferor and the transfer purpose are indicated.
	■	Points of sale.
	■	Cash acceptance machines.
6.	Withdrawal from the account shall be made only by checks signed by the authorized persons mentioned in point (3) above. The check shall be in the following form: “Pay to... (name of the creditor)”. The purpose of the check shall also be written on it as follows: “Repaying the debt of ... (debtor’s name and national ID number), Case/Verdict/Resolution No. ... dated...”.
7.	ATM cards and/or credit cards shall not be issued for this account. Moreover, fund transfer from such account shall not be allowed.
8.	The compliance officer at the bank shall ensure that all the abovementioned requirements are fulfilled and documents are verified.
9.	The bank shall send a free detailed account statement to the concerned civil rights department every month, or whenever requested.

300.1.5.17 Scientific Societies

This rule has been added pursuant to the circular No. (41039895), Dated 08/06/1441H, corresponding to 02/02/2020G.

The bank accounts of scientific societies may be opened as follows:
1.	The bank shall receive a letter from the chairman of the society’s board of directors requesting opening of the account. The letter must specify the persons authorized to manage and operate the account under a joint signature of the chairman (or his/her deputy) and the chief financial officer.
2.	The bank shall receive a copy of the university council’s decision to form the society.
3.	The bank shall receive a copy of the decision to form the board of directors approved by the university council.
4.	The bank shall receive a copy of the society’s bylaws.
5.	The bank shall receive copies of the IDs of the members of the board of directors and those authorized to manage and operate the account.
6.	Acceptance of deposits shall be as determined by the bylaws (or financial regulations) of the society.
7.	Transferring money to or receiving money from outside Saudi Arabia shall not be accepted, except for transferring money for the purpose of managing the society’s activities. For example, remittance for paying fees of consulting services or of participation in external symposiums, conferences and the like may be made after the bank obtains the official approval therefor from the university council.
8.	ATM cards and/or credit cards shall not be issued for such accounts.

300.1.5.18 Professional Associations