What are FATCA & CRS?The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at preventing tax evasion by U.S. persons through foreign accounts. It requires financial institutions worldwide, including those in Saudi Arabia, to report relevant account information. Saudi Arabia has signed an agreement with the U.S. to support FATCA compliance.The Common Reporting Standard (CRS), developed by the OECD, enables the automatic exchange of financial account information for tax purposes. Saudi Arabia, as a member, implemented CRS compliance starting 8 September 2017 through national legislation. Detailed guidance regarding CRS can be found on the OECD website (including information about TINs and tax Residency). Impact of FATCA & CRS Understand how global tax regulations affect you and the steps required to remain compliant. View Definitions Who Is Affected? FATCA and CRS can apply to any customer, regardless of nationality. Banks are required to verify your tax residency status. Responding to Requests If contacted by your bank for tax-related information, you must respond within 30 days with the required documents. Non-Compliance Consequences Failure to respond may result in classification and reporting to tax authorities based on available data. Keep Information Updated If your tax status changes, you must notify the bank within 30 days to remain compliant. For further information on FATCA and how it impacts you please visit https://www.irs.gov/ Key Compliance PracticesKnow Your Customer (KYC)SIB follows strict customer identification protocols, ensuring accurate and regularly updated data for all accounts. As part of our commitment to transparency, we do not open accounts for shell banks or entities without a physical presence.Anti-Money Laundering (AML)We have well-defined AML policies implemented across all branches. These are regularly reviewed through internal and external audits, and we maintain documentation in full compliance with local regulatory requirements.Combating Terrorism Financing (CTF)All fund transfers are closely monitored to verify identities and purposes. Our staff receive ongoing training on AML and CTF procedures, and SIB works with national bodies to combat financial crime proactively. View Guidelines SIB Compliance with AML, KYC & CTF Guidelines The Saudi Investment Bank has created dedicated units with the sole responsibilities of implementing policies and procedures relating to compliance, AML, and CTF requirements. The Saudi Investment Bank actively and systematically pursues and implements AML, KYC and CTF programs. The Saudi Investment Bank is regulated and supervised by the Saudi Arabian Monetary Agency (SAMA), Kingdom of Saudi Arabia, where the bank is domiciled and where the license to conduct banking business, has been issued. The Saudi Arabian Monetary Agency (SAMA) requires all financial institutions operating in the Kingdom of Saudi Arabia to have AML, KYC, and CTF procedures and has circulated guidelines for the same. The Saudi Investment Bank is in compliance with such guidelines and has established written policies and procedures relating to combating money Laundering activities. It also has established dedicated units that monitor the implementation of said policies and procedures. The AML policies cover all the bank's various units and branches. The Saudi Investment Bank confirms that the bank's Internal and External Auditors regularly test the adequacy of AML policies and procedures and their application. The Saudi Investment Bank has a well-established "Know Your Customer" policy, which is strictly enforced throughout the bank, whereby the customer's data is captured in the bank's database and regularly updated as required. The Saudi Investment Bank does not open accounts for "Shell banks", i.e., with no physical presence. The Saudi Investment Bank has a formal documentation retention and retrieval policy, under which records are maintained for customer identification, account data and transaction records, in accordance with the laws and regulations of the Kingdom of Saudi Arabia. For all incoming and outgoing fund transfers, The Saudi Investment Bank identifies the applicant's and the beneficiary's names and addresses as well as the purpose of the transfer (as deemed necessary) and abides by the Saudi Arabian Monetary Agency (SAMA)'s monitoring guidelines on funds transfers. The Saudi Investment Bank conducts regularly training programs for AML, KYC, and CTF procedures, systems and initiatives for all its employees and for its new hires. The Saudi Investment Bank participates in combating money-laundering activities jointly with the other Saudi Banks and is an active member of the Financial Crimes and Money Laundering Committee (AFCML), which holds regular meetings under the auspices of SAMA. Robust AML, KYC & CTF Framework The Saudi Investment Bank has created dedicated units with the sole responsibilities of implementing policies and procedures relating to compliance, AML and CTF requirements. The Saudi Investment Bank actively and systematically pursues and implements AML, KYC and CTF programs. The Saudi Investment Bank is regulated and supervised by the Saudi Arabian Monetary Agency (SAMA), Kingdom of Saudi Arabia, where the bank is domiciled and where the license to conduct banking business has been issued. The Saudi Arabian Monetary Agency (SAMA) requires all financial institutions operating in the Kingdom of Saudi Arabia, to have AML, KYC, and CTF procedures and has circulated guidelines for the same. The Saudi Investment Bank is in compliance with such guidelines and has established written policies and procedures relating to combating money Laundering activities. It also has established dedicated units that monitor the implementation of said policies and procedures. The AML policies cover all the bank's various units and branches. The Saudi Investment Bank confirms that the bank's Internal and External Auditors regularly test the adequacy of AML policies and procedures and their application. The Saudi Investment Bank has a well-established "Know Your Customer" policy, which is strictly enforced throughout the bank, whereby the customer's data is captured in the bank's database and regularly updated as required. The Saudi Investment Bank does not open accounts for "Shell banks" i.e., with no physical presence. The Saudi Investment Bank has a formal documentation retention and retrieval policy, under which records are maintained for customer identification, account data and transaction records, in accordance with the laws and regulations of the Kingdom of Saudi Arabia. For all incoming and outgoing fund transfers, The Saudi Investment Bank identifies the applicant's and the beneficiary's names and addresses as well as the purpose of the transfer (as deemed necessary) and abides by the Saudi Arabian Monetary Agency (SAMA)'s monitoring guidelines on funds transfers. The Saudi Investment Bank conducts regularly training programs for AML, KYC, and CTF procedures, systems and initiatives for all its employees and for its new hires. The Saudi Investment Bank participates in combating money-laundering activities jointly with the other Saudi Banks and is an active member of the Financial Crimes and Money Laundering Committee (AFCML), which holds regular meetings under the auspices of SAMA. Helpful Resources Access important documents, regulatory guidelines, and helpful links to better understand our compliance practices and your responsibilities as a customer. The Saudi Investment Bank Detailed AML Questionnaire Document Download Wolfsberg AML Questionnaire Document Download US Patriot Act Document Download Banking Consumer Protection Principles Document Download We’re Always Within Reach Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. Customer Care Submit inquiries, raise complaints, and access support anytime. Branches & ATMs Easily locate branches and ATMs wherever you are. E-Banking Services Bank smarter and faster with our secure digital platforms.