With reference to Royal Decree No. (M/83) dated 19/3/1446H, approving the Commercial Register Law and the Law of Tradenames, and with reference to Clause (Third) of the aforementioned Royal Decree, which grants those registered in the Commercial Register a period of five years from the effective date of the Commercial Register Law to correct the status of their subsidiary commercial registers, and the provisions of article (15) of the Commercial Register Law regarding the suspension of registration in the Commercial Register, and the article (29) stipulating that this Law shall replace the previous Commercial Register Law issued by Royal Decree No. (M/1) dated 21/2/1416H, and that it shall enter into force one hundred and eighty (180) days following its publication in the Official Gazette, and based on the powers granted to SAMA under its Law issued by Royal Decree No. (M/36) dated 11/4/1442H, and the relevant laws and regulations.

SAMA emphasizes the importance of implementing the provisions of the Commercial Register Law and the Law of Tradenames issued by Royal Decree No. (M/83) dated 19/3/1446H, including the following:

1. Correct the status of the commercial registration of banks within the specified grace period and in accordance with the mechanisms approved by the Ministry of Commerce, and take all necessary measures to avoid any potential negative consequences in the future.
    
2. Urge customers to correct the status of their commercial registrations within the specified grace period and in accordance with the mechanisms approved by the Ministry of Commerce, and take all necessary measures to avoid any potential negative consequences in the future.
    
3. Verify the continued validity of customers' registration in the Commercial Register, and ensure that appropriate measures are taken in the event of suspension of the registration in accordance with the provisions of Article (15) of the Commercial Register Law. The suspension of a commercial registration shall be treated in the same manner as the expiration of the commercial register.
    
4. Taking into account the provisions of paragraph (a) of Article (12) of the Rules Regulating Money Changing Business, which stipulate that any party wishing to engage in more than one activity (other than the money changing business) must establish a company instead of operating as a sole proprietorship, in accordance with the relevant laws and instructions, or take the necessary steps to liquidate the other activities conducted under the sole proprietorship that are not related to money changing business.