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Saudi Arabia issues 60 licenses for Grand Mosque third expansion works


Accounts for minors will be a subsidiary of the mother s
Updated 18 min 27 sec ago
Arab News
May 28, 2021 10:34
RIYADH: The Saudi Arabian Monetary Authority (SAMA) said it will allow mothers to open bank accounts on behalf of their children, so long as they are minors.
SAMA said in a circular on its website it is keen to contribute to empowering maternal clients to manage their children’s affairs. Children’s account will be in the name of the minor but a subsidiary of the mother’s account .
Saudi Arabia was the top reformer and improver among 190 economies in the World Bank’s Women, Business and the Law 2021 report, achieving a score of 80 out of 100, compared with last year’s 70.6. ....

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