The Banking Agencies
Ψ§ΩΩΩΨ§ΩΨ§Ψͺ Ψ§ΩΩ Ψ΅Ψ±ΩΩΨ©
Compliance Risk Score
90/100- Verified against GASTAT/Official source
- Updated for 2026 classification
- Complete hierarchy structure
- Has cross-references to other systems
- Nitaqat localization rules mapped
- GOSI registration status verified
π Description
SSIC 641934: The Banking Agencies. Supervised by Saudi Central Bank. Used for company registration, Nitaqat, and licensing in Saudi Arabia.
π Description
An agent (a legal entity contracted by a licensed commercial bank) provides banking services and products on behalf of the bank to its customers, which is contractually defined between the two parties in accordance with the rules issued by the Saudi Arabian Monetary Authority; expands the reach of banking services and financial inclusion for individuals through increasing and diversifying the banking channels available for obtaining financial services; facilitates the process of obtaining financial services; makes them available in different regions through an alternative channel for bank branches in regions that are deprived of banking channels for providing banking services; and facilitates individuals in obtaining the necessary financial services without trouble or hardship.
Supervisory entity: Saudi Central Bank
Licensing entity: Saudi Central Bank
Occupations Related to this Activity
Related Codes
When to use this code
Ministry of Commerce β Commercial Registration
Saudization quotas by sector via Qiwa
Permits from supervisory authorities
National reporting β GASTAT
FAQ
What is SSIC code 641934?
SSIC code 641934 corresponds to 'The Banking Agencies' in the Saudi Standard Industrial Classification (SSIC), based on ISIC Rev.4 and maintained by GASTAT. It is a activity-level code used in business registration and government filings in Saudi Arabia.
When should I use SSIC 641934?
Use SSIC code 641934 when your main business activity is 'The Banking Agencies'. You will need it for: company registration at the Ministry of Commerce, Nitaqat Saudization compliance, GOSI registration, and statistical reporting.
What Saudization rate applies to SSIC 641934?
Saudization (Nitaqat) rates vary by sector and company size. Check the HRSD/Qiwa platform for the current rate applicable to SSIC code 641934. Rates were updated in 2025-2026 for most sectors.
Data source: General Authority for Statistics (GASTAT) β SSIC/SSCO 2026 Edition.
This data is cross-checked with Qiwa, HRSD, and ZATCA portals to ensure accuracy for business compliance.