In reference to the Ministry of Commerce and Investment telegram No. 30417 dated 05/06/1439 H regarding some amendments to the documentation of incorporation contracts, allowing these contracts to be documented electronically for limited liability companies established by Saudi partners (not minors) or a Saudi individual or resident registered with a residency number.

SAMA emphasizes that banks must accept incorporation contracts for limited liability companies that have been documented electronically and do not contain notarization stamps but only the stamp of the Ministry of Commerce and Investment. Verification of the incorporation contract data should be conducted using the currently applicable service used by banks or through the "My Business" portal via the link provided in the incorporation contracts (attached is a sample incorporation contract for reference).

This is for your information and should be implemented as of this date.