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.
300.1.6.1 Embassies, Consulates, and their Educational Institutions and Employees
No: GDBC-656810000067-1440H
Effective from Jan 01 2024 - Dec 31 2023 To view other versions open the versions tab on the right
-
Foreign embassies and consulates and educational institutions operating under their auspices are permitted to open bank accounts. However, they are not permitted to open accounts for or on behalf of other entities, including businesses and charities.
-
The bank shall receive a letter from such diplomatic entities, requesting to open a bank account. The letter shall specify the name and nature of the account as well as names of residents authorized to operate the account. Copies of the diplomatic cards of such authorized residents and of the ambassador/consul shall be authenticated and stamped by the embassy/consulate and attached to the letter. Alternatively, the letter may be certified by the Ministry of Foreign Affairs, authenticating the identity of official in charge and the name of embassy. In either case, the entity shall also complete the account opening agreement and submit it to the bank. If the embassy is under formation in Saudi Arabia, the bank may open an account for it upon receiving a letter from the Ministry of Foreign Affairs. The letter shall specify the name of the embassy, the name of the person authorized to open the account, and the type and number of his/her ID. The bank shall update the information related to the embassy and its staff once the embassy/consulate is set up.
