Referring to "SADAD Account," one of the services provided through the SADAD payments system aimed at developing and enhancing the e-commerce environment in the Kingdom as a secure and convenient payment method for processing electronic payment transactions. Given that some banks treat it as a separate account from current credit accounts when applying the updated requirements in the rules for opening bank accounts and the general rules for their operation, it becomes frozen even though the current account is updated, leading to burdens on both customers and banks.

Therefore, SAMA emphasizes that the "SADAD Account" should be treated according to the status of the main current account when applying the updated requirements in the rules for opening bank accounts and the general rules for their operation, as well as the requirements for "inactive accounts and banking relationships" updated under Circular No. 371000120064 dated 20/11/1437 H, and the requirements of the rules and instructions for combating money laundering and terrorist financing, and the instructions for disclosing banking relationships and their attachment.

For your information and action accordingly, and to inform the relevant departments of its contents, and to share with SAMA the action plan for implementing these changes.