As Part of the Ministry's Efforts to Raise the Level of Transparency & Disclosure of Companies
MCI has launched the tentative version of its latest services, e-portal "aamal" for companies, which aims to provide a diverse bouquet of services for all kinds of companies: Joint Stock Co., Limited Liability Co., General Partnership Co., Limited Partnership Co., Professional Co. and the Branches of Gulf &Foreign Companies. The e-portal “aamal” provides basic information about various types of legal entities for allcompanies operating in the Kingdom, including the level ofcompanies` commitments and the information requested bypartners, shareholders, managers, Board of Directors members, investors, creditors and companies` customers.
MCI has pointed out that the e-portal "aamal" represents the main source for information and news of companies working in the Kingdom. This would include the services of publicity and publishing the incorporation contracts, access to basic information of companies, including the basic R&R for joint stock companies, a list of Board of Directors members and others. This e-portal would provide the beneficiaries with the news of all kinds of companies and the related developmentssuch as calling for the General Assembly meeting, the results ofthe Assembly resolutions, which may contribute in promoting the principles of companies disclosure and increase the level of transparency.
The e-Portal would publish awareness materials, related to incorporation, amendment, outgoing circulars, the rights and obligations of partners, shareholders, managers and members of Board of directors, as well as providing the necessary update ofthe corporate data, including the appointment of a liaison officer for each company, also recording the data of founders and shareholders of the closed joint-stock companies, with the relevant updating. Notably, there will be a time for companies to update their data through the e-portal, which will be announced in the coming days.
It is scheduled for the Ministry to launch, in the first phase, the information and news about the closed joint-stock companies. This would enable the visitors of e-portal “aamal" to access suchinformation, as well as to review the news of the General Assemblies and the results of the decisions taken, while the coming phases would include a number of important services,such as the service of issuing the companies registration electronically, as well as the level of the companies`commitment to the provisions of Corporate Law and theinstructions of the Ministry, in addition to providing informationabout other legal entities, such as Limited Liability Companies,General Partnership Co. and others.
These e-services launched by the Ministry come as a step in itsstrategic plan and initiatives to contribute, in a great significantway, in facilitating and simplifying the procedures, as well as for the application of the best practices to increase the level of transparency and disclosure of companies operating in the Kingdom. This would maintain the rights of customers and all concerned parties.
MCI would like to invite all those interested to visit the e-portal"aamal" through the following link:
aamal.sa