Referring to the receipt by SAMA of the Ministry of Commerce's telegram No. (33380/41) dated 04/03/1443H regarding the approval of companies' memorandum of association and its amendments, in which the ministry seeks to facilitate and streamline the procedures for establishing companies and any amendments thereto in accordance with the provisions of The Companies Law.

Accordingly, we would like to inform you that the Ministry of Commerce will approve the memorandums of association and their Amendments, clarifying the responsibility of the partners for what is presented and required from them. The contents of these memorandums are the responsibility of the partners in accordance with the provisions of The Companies Law. It is important to emphasize that this does not affect the obligations of the financial institution under the relevant regulations issued by SAMA.