Effective from Jan 01 2024 - Dec 31 2023 To view other versions open the versions tab on the right
The bank may open accounts for licensed money changers upon completing the following:
1.
Copies of licenses issued by SAMA shall be obtained. The account shall be valid for a period identical to the validity period of the license issued by SAMA.
2.
A copy of the commercial register shall be obtained.
3.
The bank shall verify the information contained in the commercial register or in the license issued by SAMA matches the information contained in the owner’s ID card.
4.
A copy of the owner’s ID shall be obtained.
5.
Copies of the IDs of individuals authorized to mange and operate the accounts shall be obtained.
