With reference to the instructions of the Saudi Central Bank "SAMA" communicated through... Circular No. 41028325 dated 22/04/1441 AH.The number 391000031596 and the date 1439/03/18 AH Number 381000053456 and date 1438/5/17 AH"The inclusion of canceling the requirement for the official stamp of institutions and companies on documents and papers submitted in transactions with clients and emphasizing that."

Given the observed non-compliance by some banks and financial institutions with the aforementioned instructions, the central bank reiterates the necessity of accepting the endorsement of the Chamber of Commerce alone, and not requiring the official seal from institutions and companies on the documents and papers submitted in dealings with clients. This is to be done without compromising the requirements of the Know Your Customer (KYC) principle and the due diligence procedures for clients. This directive should be announced through available means.

For your information and action accordingly, and to notify all relevant departments and branches, and to provide the Central Bank with confirmation of compliance with the content within a maximum period of five working days from the date hereof via email (bankingpolicy@sama.gov.sa). Please note that regulatory actions will be taken in case of non-compliance.