Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
The bank may open accounts for these special-purpose entities upon completing the following:
1.
Obtaining a copy of the license of the special-purpose entity, issued by the Capital Market Authority (CMA).
2.
Obtaining a copy of the license (if any) or commercial register of the owner, issued by the concerned authority.
3.
Obtaining a copy of the entity’s articles of association.
4.
Checking the IDs (for natural persons) and licenses or commercial registers (for juristic persons) of registered board members.
5.
Obtaining a copy of the decision made by the authorized signatory in such entity, authorizing specific individuals to manage and operate the accounts.
6.
Obtaining copies of the IDs of individuals authorized to mange and operate the accounts; and
7.
Checking the IDs (for natural persons) and licenses or commercial registers (for juristic persons) of the special-purpose entity’s owners whose names are stated in its articles of association and amendments thereto.
