Based on the powers granted to the Central Bank under its supervisory and regulatory authority, and in light of recent occurrences where the name of the Saudi Central Bank has been repeatedly invoked by employees of financial entities under its supervision (including general/regional departments, branches, and phone communications) in order to convince clients of the validity of actions taken by these financial entities based on directives allegedly issued by the Central Bank. The Central Bank has received several complaints indicating that its instructions were cited as reasons for not fulfilling client requests from these entities. Upon investigation, it was found that there were no circulars or instructions from the Central Bank that prevent the financial entity from providing the service to the client.

Accordingly, the Central Bank emphasizes to all financial entities (banks, insurance companies, financing companies) not to invoke the name of the Central Bank when dealing with clients, whether in refusing to meet clients' requests or in taking any actions contrary to the clients' wishes. If referencing any circulars or instructions issued by the Central Bank, this must be done through qualified specialists who are fully informed and knowledgeable about the circulars and instructions issued by the Central Bank, ensuring that the references are accurate. Financial entities must ensure that all employees adhere to the contents of this circular. In the event of any violations by employees of the financial entity regarding this matter, the Central Bank will take appropriate actions against the financial entity in accordance with the powers granted to it under relevant regulations.