13. Opening Accounts, New Relationships, and Contracts
| No: 42017708 | Date(g): 3/11/2020 | Date(h): 18/3/1442 |
Translated Document
Effective from 2020-11-03 - Nov 02 2020
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When a customer applies to open an account/deal membership/establish a contractual relationship, the specific requirements shall be applied in the following cases:
| (1) | If the unified number field is prepared and ready in the automated systems and linked to the commercial register number, then the account/membership/contractual relationship shall be opened according to the commercial register number and the unified number in the two linked fields. |
| (2) | In the event that the unified number field in the automated systems is not ready and the customer submits a document that includes the commercial register number and the unified number, the accounts/membership/contractual relationship shall be opened according to the commercial register number only, provided that the unified number is entered immediately upon completion of preparing the replacement requirements in the automated systems. |
| (3) | In the event that the automated systems are ready with the unified number and the customer applies to open an account/membership/contractual relationship and provides proof of the establishment’s identity that includes the commercial register number only/license only and does not include the unified number, the account/membership/contractual relationship shall not be opened unless proof of the unified number is presented from a reliable source, whether it has a commercial register or an entity license. |
| (4) | The accounts/memberships/contractual relationships concluded by financial institutions during the period from 17/02/1442 H corresponding to 04/10/2020 G until today shall be reviewed and verified that they are consistent with the three paragraphs (1.2.3) above. |