In reference to the Central Bank's supervisory and regulatory role over the financial institutions under its oversight, based on the powers granted to it under the Banking Control Law issued by Royal Decree No. (M/5) dated 22/02/1386 H, the Cooperative Insurance Companies Control Law issued by Royal Decree No. (M/32) dated 02/06/1424 H, the Financing Companies Control Law issued by Royal Decree No. (M/51) dated 13/08/1433 H, the regulations governing currency exchange operations issued by Minister of Finance Decision No. (1357) dated 01/05/1432 H, and Council of Ministers Decision No. (266) dated 02/05/1440 H regarding the Central Bank's authority to supervise and regulate the payments sector. Additionally, referring to Royal Decree No. (M/106) dated 10/09/1440 H approving the Distinguished Residency System.

The Central Bank would like to confirm the acceptance of the Distinguished Residency, both permanent and temporary, issued by the Distinguished Residency Center as an approved identification allowing its holder to benefit from the financial products and services offered by financial institutions. (Attached is the model of the permanent and temporary Distinguished Residency Card).