Reference is made to the Ministry of Commerce’s letter No. (41/33380) dated 04/03/1443 H, regarding the approval of companies’ articles of incorporation and its amendments, through which the Ministry seeks to ease and facilitate the procedures for establishing companies and any amendments that may occur to it, in line with the provisions of the Companies Law.

Accordingly, we inform you that the Ministry will approve the articles of incorporation and its amendments while clarifying that the shareholders will bear the responsibility for what is submitted and shall be obligated to it, in accordance with the Companies’ Law.

In this regard, SAMA emphasize that Financial Institutions shall comply with the relevant regulations and instructions issued by SAMA.