Non-Requirement for Clients from Companies to Provide the official stamp on the Articles of association and their amendments submitted to open accounts or bank transactions
| No: 2305010235 | Date(g): 1/5/2023 | Date(h): 11/10/1444 |
Translated Document
Effective from 2023-05-01 - Apr 30 2023
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Further to the instructions of SAMA issued under Circular No. (381000053456) dated 17/05/1438 H, Circular No. (391000031596) dated 18/03/1439 H and other relevant instructions stipulating that corporate and institutional customers are not required to have the official stamp of the Ministry on the documents submitted for opening accounts or bank transactions, and in view of the observed non-acceptance by some banks of the Memorandum of Association and their amendments submitted by customers due to the lack of the Ministry's stamp on them.
Accordingly, SAMA stresses all banks not to require corporate customers to obtain the official stamp from the Ministry on the articles of association and their amendments submitted to open accounts or bank transactions, and only verify their authenticity through the Aamaly magazine via the following link: (aamaly.sa).