Non-Requirement for Customers from Companies to Provide the Official Stamp on the Memorandum of Association and their Amendments Submitted to Account Opening or Banking Transactions
| No: 2305010235 | Date(g): 1/5/2023 | Date(h): 11/10/1444 |
Translated Document
Further to the instructions issued by SAMA under Circular No. (381000053456) dated 17/05/1438 H, Circular No. (391000031596) dated 18/03/1439 H and other relevant instructions, which stipulate that customers from companies and institutions are not required to have the official stamp of the Ministry on the documents submitted for account opening or banking transactions, it has been observed that some banks have not accepted the Memorandum of Association and their amendments submitted by customers due to the absence of the Ministry's stamp on them.
Accordingly, SAMA emphasizes to all banks that they should not require customers from companies to provide the official stamp from the Ministry on the memorandums of association and their amendments submitted for account opening or banking transactions, and only verify their validity through the (Aamaly) magazine via the following link: (aamaly.sa).