Dear Esteemed Chamber Subscribers,
May the peace, mercy, and blessings of Allah be upon you.
Asharqia Chamber extends its warmest greetings to you and would like to inform you that it has received the letter of the Federation of Saudi Chambers No. (45551987/20), dated (24/1/1448 AH), referring to the telegram received from the Ministry of Commerce No. (1243), dated (16 Muharram 1448 AH), attached to the Anti-Money Laundering Law issued by Royal Decree No. (M/20), dated (5 Safar 1439 AH), and the Law of Combating Terrorism Crimes and Its Financing issued by Royal Decree No. (M/21), dated (12 Safar 1439 AH), and their Implementing Regulations, and the obligations they place on those practicing the precious metals and stones activity to apply due diligence measures, particularly with regard to identifying the beneficial owner.
We inform you that the General Authority for Awqaf has provided a service that enables dealers in precious metals and stones to inquire about beneficial owner information of endowments, through one of the following channels:
- Technical linking and integration with the systems of the General Authority for Awqaf, by contacting the Data Office Department by email (dmo@awqaf.gov.sa), requesting the beneficial owner data sharing forms, and having them approved by the reporting entity and the Authority.
- The “Endowment Certificate Verification” services available through the Authority’s website.
- Accessing the list of all registered endowments available to the public on the Authority’s website.
The Federation also informs you that the General Authority for Awqaf has prepared a form for receiving reports of discrepancies in the beneficial owner data of endowments.
For more information and to view the form, please visit the following link: (http://go.ac.sa/iis).
Please accept our sincere regards and appreciation.