Institutions that Practice E-Commerce and Have No Official Headquarters

No: 42019124

Date(g): 9/11/2020 | Date(h): 24/3/1442

Effective from 2020-11-09 - Nov 08 2020
To view other versions open the versions tab on the right

103.	In addition to the requirements stated for the Licensed Business, Establishments and Shops, DTFCs should perform following additional procedures when opening General Account in the name of an institution that practices e-commerce and have no official headquarters:
	i.	Classify the account type as e-commerce.
	ii.	Verify the electronic platform of the Institution through the documentation of electronic stores licensed by the Ministry of Commerce.
	iii.	Complete the national address of the institution or its owner.
	iv.	Classify these accounts are classified as high-risk accounts and review every two years.