12. Instructions Communicated by SAMA Regarding the Implementation of Judicial, Security and Civil Procedures
Effective from Jan 31 2025 - Nov 02 2020
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When implementing instructions communicated by SAMA regarding making a reservation, requesting data or original documents, or executing a transfer, the following shall be adhered to:
| (1) | ) In the event of receiving a request to seize, prevent dealing, prohibit dealing, or prevent transfer against any non-governmental establishment, whether through technical systems (Tanfeeth / SAMA Net) or others, and the request contains the unified number and the commercial register / license number, or one of them, the request content shall be implemented in the financial institution's systems and credit information under both numbers. |
| (2) | In the event of receiving a request to lift a reservation, lift a dealing ban, lift a dealing ban, lift a transfer ban, or a transfer request that contains the unified number and it relates to a previous request for an entity that was executed using the commercial register/license number, the establishment’s unified number shall be matched with the commercial register/license number and verifying that the two numbers belong to the same establishment to ensure the correctness and safety of implementation. |
| (3) | If the financial institution receives a transaction related to a request for information or original documents and the transaction contains the unified number or the commercial register/license or both, the automated systems shall be searched using the number contained in the transaction and its corresponding number to ensure the comprehensiveness of the search for the financial relationship and to provide the required information accurately and correctly. |
| (4) | It is required to ensure that the procedures for seizure and lifting do not affect financial relationships, prohibition of dealing, or prohibition of dealing and their lifting. |