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. (45550624/20), dated (28/12/1447 AH), referring to the telegram received from the Ministry of Commerce No. (32793), dated (16/12/1447 AH), corresponding to (2/6/2026), which refers to the Anti-Money Laundering Law issued by Royal Decree No. (M/20), dated (5/2/1439 AH), and the Law of Combating Terrorism Crimes and Its Financing issued by Royal Decree No. (M/21), dated (12/2/1439 AH), and their Implementing Regulations, and the obligations they place on those practicing the precious metals and stones trade activity to apply due diligence measures, particularly with regard to identifying the beneficial owner.
The Ministry has provided a technical service that allows those practicing the precious metals and stones trade activity to inquire about the beneficial owner information of the companies they deal with through the (Wathq) service, in order to enable those practicing the precious metals and stones trade to apply the necessary due diligence toward their corporate customers and to notify the Ministry of any discrepancies in the beneficial owner data. The Ministry has also prepared a beneficial owner service manual.
Accordingly, the Federation hopes that those practicing the precious metals and stones trade activity will register for the service, begin inquiring about beneficial owner data, and notify the Ministry of any discrepancies in the beneficial owner data. A copy of the user manual, which aims to help dealers register for and benefit from the service, is available at the following link: (http://go.ac.sa/oed).
Please accept our sincere regards and appreciation.