Based on the Saudi Central Bank Law issued by Royal Decree No. (M/36) dated 11/4/1442 H, and the powers vested in SAMA under the relevant regulations, and based on SAMA's continuous efforts to protect customers of financial institutions, and to enhance the principle of disclosure and transparency in the financial sector, and a desire to determine the minimum standards and procedures that financial institutions must adhere to when introducing new products and promoting them with a brand different from the identity of the original financial institution and trade name. 

We would like to note that when a financial institution offer and promote products under a brand different from the original financial institution's identity and trade name, the financial institution must comply as a minimum with the following:

First: Compliance with the laws, regulations and instructions issued by SAMA, and what may be issued by SAMA in this regard, and avoiding any act that would cause confusion and mislead customers. 

Second: Include the risk management strategy and policy of the financial institution on the procedures to be taken in the event of impersonating the identity of the financial institution or its trademark, especially for risks related to cybersecurity and financial fraud. 

Third: Contracting with trademark protection service providers to monitor cases of brand theft of all types and methods, and take the necessary action in this regard, whether theft is through traditional means or through social media platforms and websites. 

Fourth: Review and update the relevant policies, such as the usage and data privacy policy, when referring to the financial institution's trademark or its updated digital domains, and inform the concerned parties of this. 

Fifth: Registration of the trademark (new/updated) with the relevant authorities before using it and notify SAMA thereof.

Sixth: Conducting a promotional campaign to advertise the new brand with clarification of the trade name of the financial institution stipulated in the commercial register.

Seventh: Using the trade name and trademark together when communicating with customers by phone, and it is sufficient to refer to the trade name and brand together when communicating with customers via text messages for the first time.

Eighth: Stipulating the trade name, trademark and license number on the websites of the financial institution.

Ninth: Stipulating the trade name and trademark together when indicating that the financial institution is subject to the supervision of SAMA.