On 2 November 2025, SAU MCI consulted on amending the Beneficial Ownership Rules.
- Define real beneficiary as natural person with effective, ultimate control over company.
- Required company to collect sufficient, accurate, updating the data about its beneficial owner, recording it in a special register, in addition to submitting it to the Ministry.
- Exempted from disclosure requirements subsidiary company listed on financial market.
- SAU MCI shall take reasonable measures based on risks to verify the disclosed data.
- Apply penalties in case of refusal to cooperate with SAU MCI, financial institutions, or DNFBPs regarding provision to beneficial owner information or the identity verification.
- Comment must be provided by end of consultation date, on 9 November 2025.
