Deactivation of Point-of-Sale Terminals Tied to Frozen Bank Accounts of Juristic Persons
No: 42080025 | Date(g): 26/6/2021 | Date(h): 17/11/1442 |
Effective from 2021-06-26 - Jun 25 2021
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Based on the powers granted to SAMA under the relevant regulations and instructions, and in line with its supervisory and regulatory role over the financial institutions under its oversight.
I would like to inform you that banks operating in the Kingdom must disable point-of-sale devices for the frozen bank accounts of Juristic Persons, while ensuring that all accounts and transactions of Juristic Persons are frozen upon the expiration of the necessary documentation to conduct business.