Approval of electronically authenticated documents from the chambers of commerce in Saudi banks
The Central Bank directs verification through digital links to facilitate procedures
Monday – 28 Muharram 1443 AH – 06 September 2021 AD Issue No. [
The Central Bank Approves Documents Authenticated by Chambers of Commerce in Banking Transactions (Middle East)
Riyadh: Bandar Muslim
This step comes to facilitate the procedures of establishments operating in the Saudi labor market, after the Chambers of Commerce provide their services to subscribers electronically in order to achieve their strategic objectives by using the latest advanced systems in the field of information technology so that customers can carry out their work easily in an advanced and ideal work environment.
Government and semi-governmental agencies are intensifying their efforts towards digital transformation by developing the best international systems and technologies in order to facilitate public agencies’ transactions procedures as well as services related to the labor market to enable enterprises to obtain the best experience electronically and to enable entrepreneurs and small and medium enterprises to enter and expand in the local market.
The Chambers of Commerce seek to increase the range of electronic services and raise the level of their quality with high security standards so that their customers can carry out their work easily and easily in an advanced work environment, which represents a step towards achieving the desired goal of the state with regard to digital transformation.
Chambers of Commerce subscribers can benefit from several services, starting with activating the facility’s account, and then benefiting from electronic document authentication services, passing through several services in managing the facility’s data and delegates to keep pace with the development of the business environment in the Kingdom and facilitate the procedures of businessmen and money. The Kingdom was ranked second globally among the G-20 countries in the Digital Competitiveness Report for the year 2021 issued by the European Center for Digital Competitiveness. The report built its data according to the Global Competitiveness Index issued by the World Economic Forum, and the supporting data provided by the World Bank and the International Telecommunication Union.
The Kingdom advanced 20 degrees in the general index compared to the previous year, and advanced 86 degrees in the digital ecosystem axis, topping the G20 countries, and achieving third place in the digital capabilities axis among the G20 countries. This progress represents the Kingdom’s continuous digital leadership and its permanent preservation of progress in Various indicators and centers.
The report measures the achievements and steps taken by the Kingdom from 2018 until last year through several criteria through two axes, the first relates to the digital transformation ecosystem, in terms of investments in venture capital, ease of business performance and digital capabilities, while the second axis includes readiness to adopt digital transformation and innovation from Where the digital capabilities of the workforce and readiness for the risks of entrepreneurship, the spread of broadband and innovative ideas in companies.
The report’s data includes developing digital capabilities and attracting foreign investments and international companies to enhance digital and technical knowledge. The main objectives of the ICT sector include creating more than 25,000 new jobs in this sector, increasing the size of the information technology market and emerging technologies by 50 percent, and growing the contribution of the ICT sector. Information in the GDP of more than $13 billion over 5 years and an increase in women’s participation in the sector by 50 percent