المادة 10(a): Opening and Operating the Investment Account by Power of Attorney

a) The capital market institution shall accept a power of attorney to open or operate an investment account for his natural person client whenever the following conditions are met:

1) The power of attorney is issued by the Notary Public, a person licensed as a notary, or out of the Kingdom and bears an “APOSTILLE” certificate or certified by the Saudi Embassy or Consulate at the issuing country and the Ministry of Foreign Affairs in the Kingdom.

2) The attorney-in-fact is an attorney-in-fact for any of the following:

a. a relative of the attorney-in-fact as a parent, son, daughter, spouse, brother, or sister.