Referring to the role of SAMA the supervisory and regulatory authority over financial institutions under its jurisdiction, based on the powers vested to it pursuant to Banking Control Law issued by Royal Decree No. (M/5) dated 22/1386 H, and The Cooperative Insurance Companies Control Law issued by Royal Decree No. (M/32) dated 2/6/1424 H,  and The Finance Companies Control Law issued by Royal Decree No. (M/51) dated 13/8/1433 H, and The rules governing money changing business issued by the decision of the Minister of Finance No. (1357) dated 1/5/1432 H, and SAMA's determination to establish communication channels with the financial institutions under its supervision to ensure the dissemination of its executive and punitive decisions.

Accordingly, within fifteen working days from this date, all financial institutions under the supervision of SAMA are required to designate a specific email address for receiving SAMA's executive/penal decisions. This email address should be directly linked to the Chairman of the Board or the Board of Directors, the Chief Executive Officer or General Manager, and the Compliance Manager -according to the company's organizational structure-, as the financial institutions must provide SAMA with the updated email address and contact details of the Chief Executive Officer or General Manager, and the Compliance Manager through email.

SAMA wishes to emphasize that the responsibility for monitoring decisions received via postal mail and email, as well as the consequences arising from them, lies with financial institutions and their senior management. Financial institutions must notify SAMA in writing through the official mail and email about any updates to those addresses, these addresses will not take effect with respect to SAMA until one month from the notification date. SAMA also affirms that it will take all regulatory measures against financial institutions that do not comply with the content of this circular.