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Use the English Translation of Commercial Register for Commercial Entities

No: 42054762 Date(g): 18/3/2021 | Date(h): 5/8/1442

Effective from 2021-04-16 - Apr 15 2021
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Translation for review.

In light of SAMA's supervisory and regulatory role over banks operating in the Kingdom, aimed at organizing and protecting the sector, and to avoid the exploitation of similar names among commercial entities for the purpose of obtaining banking facilities or products.

Therefore, SAMA emphasizes that banks operating in the Kingdom must adopt the specified English name in the translated commercial registry service issued by the Ministry of Commerce when entering into salary transfer agreements with clients from commercial institutions and companies.

This is for your information and should be implemented within one month from this date.