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Dr. Ahmad bin Abdulkareem Al-kholifey, Governor of the Saudi Arabian Monetary Authority (SAMA) and Dr. Waleed Al-Sam'ani, Minister of Justice signed today Tuesday at SAMA head quarter in Riyadh the digital link agreement 'Tanfeith-execution' between SAMA and ministry of. This agreement comes with the aim of providing direct link among government authorized systems and banks operating in the Kingdom for an integration among them. Noting that SAMA has officially introduced 'tanfeith-execution' on 14^th of February 2019.

The agreement, which was attended by a number of Excellences and Honor guests from the two parties, al-rajhi bank and alinma bank, incarnates the incessantly joint efforts to promote cooperation level in order to utilize and expand digital services and to improve SAMA systems infrastructure.

"It is of our great pleasure at SAMA to celebrate today with our partners a new accomplishment that will contribute to the facilitating of the Juridical proceedings, increase their efficacy, support the enforcement of rights and boost the development and prosperity set by His Majesty King Salman Bin Abdulaziz and His Crown Prince, Muhammad bin Salman" Said Al-kholifey during his speech at the ceremony.

Al-kholifey expressed his thanks and appreciation to the minister of justice and Excellences from the ministry of justice, SAMA and al-rajhi and alinma banks who were active partners through out the first phase of tanfeith program.

SAMA governor pointed out that SAMA as a regulatory and supervisory authority has always been maintaining confidentiality of information related to banking business; that contributes to the promoting of confidence in the banking sector and to boost development and economic growth. Al-kholifey clarified that providing banking data to the concerned judicial authorities as per regular procedures will be of positive impact including supporting those bodies to review cases before them.

Al-kholifey explained that SAMA digital means have contributed directly to the facilitating of procedures. He indicated that because of the rapid increase in the volume of cases considered by the judicial departments, the ministry of Justice in particular, in addition to SAMA desire to expand its digital link with authorized entities comes the necessity to find innovative solutions to keep pace with the growing workload. Thus, taking advantage of recent technologies available to SAMA and the banking sector shall be fruitful in reducing costs of money, efforts and scale down use of work papers.

On his side, Dr. Waleed Al-Sam'ani, Minister of Justice thanked SAMA governor and the program's team for the exerted efforts to make this program a success. He pointed out to the importance of this program in helping and facilitating Judges' work in reviewing cases. Al-Sam'ani stressed that SAMA is one of the most important government party that the minister of justice is keen to establish a direct link with.

The agreement encompasses a set of general frameworks and mechanisms for joint actions and an identification of areas of cooperation and organization.

During the ceremony, The Financial Enforcement Department gave a presentation on the program and stages of its implementation. By the end of the ceremony, Dr. Al-Kholifey, Governor of SAMA handed souvenirs to His Excellency the minister of Justice and to the participants in the program from the ministry, al-rajhi and alinma banks.