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Confidentiality of Banking Information-1432

No: 14547/MAT/6442 Date(g): 22/2/2011 | Date(h): 19/3/1432 Status: In-Force

Effective from 2011-02-22 - Feb 21 2011
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       Referencing the circulars issued by the Central Bank, numbered M A T/150, dated 1422/6/29 Hijri, and...No. M A T/97, dated 1424/03/13 AH and number M.A.S/207 dated 1430/03/05H and number MAT/15969 ,date 1431/07/03 AH And the previous circulars concerning the mechanisms of disclosure of banking data and information, and the necessity of adhering to not providing any information about clients except after addressing the central bank and obtaining a non-objection certificate."

In the interest of ensuring that banks comply with the directive not to provide any local or foreign entities (such as international payment companies) with information about customers' transactions and personal data, based solely on the presence of the logo of those entities on some banking products, including bank cards, the central bank wishes to emphasize the necessity of adhering to the aforementioned circulars. It is imperative not to disclose customers' data and transactions except after consulting the central bank and obtaining its approval.

To inform you, we hope for full compliance with the aforementioned and instruct the relevant administration to verify that the various departments and branches of the bank adhere to its content and provide feedback within a month from its date.