benami transactions saudi: will eliminate benami transactions in the commercial sector; Saudi warns to pay attention to ten things - saudi arabia announces some point to eliminate benami transactions in trade

Saudi Arabia: Authorities have warned all businesses in the country to comply with trade rules issued by government departments. The Saudi authorities have come up with such a proposal as part of the implementation of the national anti-benami plan in the country. In the commercial arena Benami transactions The authorities have put forward ten proposals to reduce and take care of things related to it. The media reports the news.

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1. Keep all the documents required to run the institution.
2. Must have a commercial registration agency.
3. The institution must have a bank account.
4. Do not transact business through personal accounts
5. Renew and keep the license to operate the establishments at the time
6. Clearly show the address of the institution
7. The institution should be registered in the wage protection scheme.
8. All contracts should be kept as electronic records.
9. Ensure that workers are employed in accordance with the rules of commercial enterprises.
10. Keep payroll data.

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The financial transactions of the institution can be done only in compliance with all the laws of the country. The situation where a non-native is allowed to work with full authority in the institution will be avoided. Give more importance to electronic payment methods. That will give you clear figures. Ensure compliance with all regulations and guidelines related to financial activities.