Automization of the Requests of the Ministry of Finance Regrading Government Agencies’ Accounts Held with Commercial Banks Operating in Saudi Arabia Through the E-Portal “Hisab”
No: 42076931 Date(g): 13/6/2021 | Date(h): 4/11/1442 Translated Document
Referring to the role of SAMA in supervising and regulating financial institutions under its oversight, based on the powers granted to it by the Banking Control Law issued by Royal Decree No. (M/5) dated 22/02/1386H, and the Rules for Bank Accounts communicated in Circular No. 65681/67 dated 01/11/1440H, and SAMA's initiative to facilitate the processing of requests from the Ministry of Finance related to (opening, activating, closing, modifying the name of) accounts for government entities at commercial banks operating in the Kingdom in a technical manner to enhance the quality of related procedures, speed up their execution, and ease access to the data associated with these requests through the electronic portal "Hisab."
Based on the previous arrangements that the Bank's commissioners have been informed of and provided with the data regarding the use of the electronic portal, we inform you that requests from the Ministry of Finance related to accounts for government entities at all commercial banks under the supervision of SAMA will be processed through the electronic portal "Hisab" according to the attached guide and the powers granted to your designated representatives to handle these requests, starting from Tuesday, 15/06/2021G.
SAMA also emphasizes the importance of directing your specialists to activate their accounts and ensure that all related procedures are completed promptly. They should adhere to and comply with the instructions governing the electronic portal "Hisab" and make the necessary effort and care to process all requests received through the program immediately and as required. It is noted that the responsibility for monitoring the processing of these requests rests with the bank. If there are any inquiries in this regard, please contact via email (GovAccountsInBanks@SAMA.GOV.SA).
Soft Launch
Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.