The Saudi Holland Bank has completed the project of electronic linking of commercial records data for the commercial enterprises sector through the Wathiq electronic system, which paves the way for the bank to automatically and immediately inquire about the commercial records data of its customers from companies and institutions, their details, status and branches, and receive notifications of the amendment of the commercial record data as soon as it occurs. The move comes in line with the initiatives between the Saudi Arabian Monetary Agency (SAMA) and the Ministry of Commerce and Industry to facilitate and accelerate the pace of business establishment procedures in the Kingdom. Majid Al Ghanimi, General Manager of Technical Services and Vice President for Operations at The Saudi Dutch Bank, said that the new mechanism adopted by the bank will allow the bank to verify and track the accuracy of the commercial register data of its corporate clients and raise the quality of procedures and services provided to customers.

The new mechanism will allow the bank to verify the accuracy of the commercial register data for its corporate clients.