Account Opening Rules

Rules for Foreign Embassies, Consulates, Diplomats, Airlines, Multilateral Organizations, and their Employees 300.1.6.1 Embassies, Consulates, and their Educational Institutions and Employees - Foreign embassies and consulates and educational institutions operating under their auspices are permitted to open bank accounts. However, they are not permitted to open accounts for or on behalf of other entities, including businesses and charities. - The bank shall receive a letter from such diplomatic entities, requesting to open a bank account. The letter shall specify the name and nature of the account as well as names of residents authorized to operate the account. Copies of the diplomatic cards of such authorized residents and of the ambassador/consul shall be authenticated and stamped by the embassy/consulate and attached to the letter. Alternatively, the letter may be certified by the Ministry of Foreign Affairs, authenticating the identity of official in charge and the name of embassy. In either case, the entity shall also complete the account opening agreement and submit it to the bank. If the embassy is under formation in Saudi Arabia, the bank may open an account for it upon receiving a letter from the Ministry of Foreign Affairs. The letter shall specify the name of the embassy, the name of the person authorized to open the account, and the type and number of his/her ID. The bank shall update the information related to the embassy and its staff once the embassy/consulate is set up. 300.1.6.2 Resident Diplomats Subject to the provisions of the Anti-Money Laundering Law and its Implementing Regulations , the Law of Terrorism Crimes and Financing and its Implementing Regulations , and the guidelines issued thereunder concerning politically exposed persons, bank accounts may be opened for resident diplomats working at foreign embassies and consulates. Such diplomats must present to the bank copies of their diplomatic cards, issued by the Ministry of Foreign Affairs, and copies of their diplomatic passports for verification. The bank shall keep such copies in the customer information file. Further, the bank may open accounts for diplomats whose embassies in Saudi Arabia are still under establishment upon receiving a letter from the Ministry of Foreign Affairs. The letter shall specify the name of the embassy, the name of the diplomat, and his/her ID information. A copy of his/her diplomatic passport shall also be submitted to the bank. Once the embassy is set up, the customer information file shall be updated. 300.1.6.3 Diplomats on Temporary Visit The bank may open accounts for diplomats visiting Saudi Arabia to carry out official temporary tasks. In addition to obtaining documents indicated in Rule (300.1.6.2) above, the bank shall receive from or through the embassy a letter of the Ministry of Foreign Affairs, specifying the term of the diplomat’s task. Moreover, approval of the manager of the bank’s compliance department for opening the account shall be sought. SAMA must be informed about opening the account. Such accounts must be closed when the visit (the assignment) term expires. Upon the expiration of the visit term and if no extension is granted and the account balance remains unsettled, the bank shall then obtain a letter from the customer, addressed to the bank and attested by the concerned embassy. The letter shall indicate that the account holder has left Saudi Arabia and shall specify the suitable method to return the account balance to him/her. However, the bank is not permitted to open accounts for visitors coming for other purposes other than the official tasks or visitors coming to engage in official tasks but for a few days. 300.1.6.4 Foreign Airlines and their Employees Foreign airlines can open bank accounts to serve their basic objectives. However, they are not permitted to open accounts for or on behalf of any other juristic entities, including corporations, organizations, businesses and charities. To ope