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.
Book traversal links for Resident Companies Including Joint Stock Companies, Limited Liability Companies, General Partnership and Limited Partnership Companies
Resident Companies Including Joint Stock Companies, Limited Liability Companies, General Partnership and Limited Partnership Companies
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
106.
DTFCs must comply with the following conditions before opening General Account in the name of a Resident Company:
i.
Obtain a copy of the commercial register.
ii.
Obtain a copy of the Articles of Association and its annexes. (if any)
iii.
Obtain a copy of the identity of the manager in charge.
iv.
Identify and verify the identities of the members of the Board of Directors.
v.
Obtain a power of attorney issued by an authorized notary or notary, or authorization prepared within the bank by the person (s) who, by virtue of the Memorandum of Association, the partners' decision or a decision of the members of the Board of Directors, has the power to authorize natural persons to sign and operate accounts.
vi.
Obtain a copy of the identity of persons authorized to sign and operate accounts.
vii.
Identify and verify the identities of the owners of the company named in the Memorandum of Association in accordance with the latest amendments, except for the listed joint stock companies.
Book traversal links for Resident Companies Including Joint Stock Companies, Limited Liability Companies, General Partnership and Limited Partnership Companies