SAMA Instruct Commercial Banks, Insurance Companies, Financial Institutions to Recognize, Accept the Digital ID

“Maaal” informed that the Saudi Central Bank “SAMA” issued an  instruction to all commercial banks, insurance companies and financial institutions, under its supervision, to accept and recognize the digital ID, on Absher application/individuals for the current customers, in transactions that do not requiring having a paper copy.

Nonetheless, they shall pay attention to the importance of continuous assessment and review of risks that may ensue, as a result of accreditation through accepting the digital ID and reaching an appropriate mechanism to get an electronical copy of the digital ID, especially in transactions that do not stand in need to obtain a paper copy of them, SAMA added.

It reasserted, in the directive, that the decision shall take effect, immediately, from September 9, 2021.

SAMA pointed out that the Ministry of Interior has launched an online (electronic) version for the national ID on Absher Individuals’ application, under the name of the Digital ID,  in collaboration with National Information Center.

The aim is to make easier for the citizens to verify their IDs from online and accrediting the Absher platform as QR Code and that it should be recognized on Tawakkalna app.

SAMA’s step falls in line with the Kingdom broader trend towards reactivating the E-Government.

.