Saudi Arabia SSIC Code 641911: National (local) commercial banks

Saudi Standard Industrial Classification (SSIC 2026)
Classification Level: Activity | Official Code: 641911

Executive Summary & Classification Scope

SSIC code 641911 designates National (local) commercial banks (بنوك تجارية وطنية (محلية)) under the official Saudi Standard Industrial Classification (January 2025 / 2026 Edition, based on UN ISIC Rev. 4) administered by the General Authority for Statistics (GASTAT).

Detailed Description: Commercial banks that are headquartered in the Kingdom and have branches in the Kingdom, and engage in activities (business) to receive money as current or fixed deposits, open current accounts, open credits, issue letters of guarantee, pay and collect cheques or orders or exchange permits and other valuable papers, deduct bonds, bills, other commercial securities, foreign exchange business and other bank business.

It serves as the mandatory regulatory benchmark for Commercial Registration (CR) with the Ministry of Commerce, MISA foreign investment licensing (allowing up to 100% foreign equity ownership), municipal permits on the Balady portal, and Nitaqat Saudization quota determinations by MHRSD.

Key Classification Facts

Related Activities in Same Class

Commercial Business Types Operating in Activity 641911

Regulatory & Business Setup Use Cases in Saudi Arabia

1. Ministry of Commerce (MC): Required on your Saudi Commercial Registration (CR) to legally define the company’s business activities.
2. Ministry of Investment (MISA): Determines eligibility for 100% foreign-owned investment licenses and capital requirements. See our MISA Licensing Guide.
3. ZATCA Taxation & Zakat: Activity categorization for Corporate Income Tax (20%), Zakat (2.5%), and 15% VAT filing rules. See our ZATCA Tax Guide.
4. MHRSD / Qiwa (Nitaqat Quotas): Determines the required percentage of Saudi national employees. Check our Nitaqat Saudization Guide.
5. Balady Municipal Licensing: Establishes commercial shop, office, and warehouse zoning compliance.

Compliance & Regulatory Risk Assessment

Frequently Asked Questions (FAQ)

1. What does Saudi SSIC code 641911 cover?

SSIC 641911 covers National (local) commercial banks (بنوك تجارية وطنية (محلية)) under Saudi Arabia’s official industrial classification system.

2. Which authority regulates activities under SSIC 641911?

Activities under this code fall under the supervision of Saudi Central Bank.

3. Can international investors establish a business with code 641911?

Yes. In most sectors, the Ministry of Investment (MISA) permits 100% foreign equity ownership. Refer to our MISA Guide for full requirements.

4. How does SSIC 641911 affect my company’s Nitaqat rating?

MHRSD calculates your Saudization tier based on your primary SSIC activity registered on your Commercial Registration.

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