Membership Application Procedure
Initial Contact with Muqassa:
Muqassa Requirements discussion:
- Muqassa will clarify membership admission and ongoing requirements, the applicant to provide information required by Muqassa to support their request.
Membership application submission:
- Submit the complete membership application form.
- Submit an electronic copy of the Commercial Registration issued by Ministry of Commerce and Investment.
- Submit a copy of the license issued by the CMA (for Authorized Personal) or SAMA (for Banks).
- Submit the entity establishment legal documents and capital depository certificate.
- Board of Directors details
Principle approval:
- Muqassa to evaluate applicant request and may require members feedback on certain areas.
- Approval-in-Principle (Granted upon completion of preliminary review by Muqassa).
- Finalize infrastructure requirements and establish operations in preparation for commencement of business.
Fulfill principle approval requirements:
- Conduct necessary infrastructure tests to ensure system compatibility.
- Completion of all the certification related activities.
Formal membership admission:
- Formal Admission as Muqassa Member (Subject to applicant fulfilling approval-in-principle requirements).
- Commencement of Operations as Muqassa Member.