The Saudi Central Bank announced the issuance and electronic verification controls of bank documents, in a step that comes from its continuous efforts towards raising the quality of electronic services provided to banking sector customers and improving their quality and effectiveness.

The Central Bank of Saudi Arabia also said this is to ensure easing of financial transactions, saving time and effort, to obtain bank documents and certificates, and to give confidence in the authenticity of documents issued electronically.

- The Central Bank in a statement said that, the above controls set the conditions that banks must take into account when issuing bank documents, in addition to obligating banks to provide the electronic verification service available for electronic or paper-issued bank documents, and that these documents include references to the means by which email verification is carried out through it.

- The Central Bank explained that these controls included the minimum number of bank documents necessary to allow their electronic issuance, which are the most needed by customers, such as bank certificates, proof of indebtedness, and disclaimer.

- The authority highlighted that banks are obligated to issue bank documents as per the periods specified by the relevant Central Bank instructions, and to set procedures and measures that ensure compliance with these controls, sating in this regard, that the work of these controls will start on the date of 1st April 2022 (29/08/1443).

SOURCE : SAUDI EXPATRIATES

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