Further to SAMA Circular No. 361000082486 dated 10/6/1436H regarding the guidelines for implementing the electronic linking project with the Ministry of Commerce and Industry for joint stock company formation, and Circular No. 361000021850 dated 11/2/1436H regarding the adoption of the electronic commercial register certificate as an official document. Referring to the requirement for copies of the commercial register and the founding contract for resident establishments operating in the Kingdom as stated in the fourth update of the rules for opening bank accounts and the general rules for their operation in banks operating in the Kingdom.

SAMA emphasizes that all banks must comply with the directives mentioned in the above circulars and implement the following:

• Service for documenting capital deposit certificates.
• Service for electronically documenting commercial registration information for all establishments via direct linking with the Ministry of Commerce and Investment system (Wathiq Service).
• Acceptance of the electronic commercial register and electronic company bylaws as legal documents in all procedures and transactions requiring the acquisition of the commercial register document and company bylaws, and verifying their data electronically, and keeping hard copies in the customer's file.