3 expat women who practiced prostitution in a hotel arrested in Riyadh    Tunisian president and Saudi interior minister discuss security cooperation    Saudi, US defense ministers discuss over phone ways to enhance strategic cooperation    Grand Mufti expresses pride over Saudi Arabia's firm position on Palestine issue    Saudi Arabia's inflation records slight rise reaching 2% in January 2025    Electromin celebrates victory of "Nissan Formula E Team" in "Jeddah E-Prix" as first Saudi private-sector global partner in Formula E    Saudi Arabia vows full support to Lebanon's actions to safeguard citizens' security    US-made heavy bombs arrive in Israel after Biden-era hold    Death toll from New Delhi railway station stampede rises to 18    US, Russia to begin Ukraine peace talks in Saudi Arabia    Al Ittihad CEO calls for fairness as Al Hilal raises officiating concerns ahead of Saudi Classico    LG Electronics Saudi Arabia and Shaker Group mark 30 years of sustainable innovation in HVAC solutions    Benzema shines with goal and two assists as Al Ittihad dominate Al Wehda French star leads Al Ittihad to 4-1 victory, extending lead over Al Hilal ahead of top-of-the-table clash    Saudi Arabia among world's top 10 energy storage markets    Al Hilal held to controversial 1-1 draw against Al Riyadh, missing chance to reclaim top spot    Al Hilal accuses SPL's Michael Emenalo of bias and SFF's Manuel Navarro of pressuring team to accept local referees Club criticizes officiating, calls for elite foreign referees in Saudi Pro League    Maya Diab joins Arab stars and celebrities in celebrating the Centrepoint Ramadan 2025 collection launch at Riyadh Boulevard    Oilatum tackles rise in Eczema and Dry Skin in Saudi Arabia    HONOR brings together AI and luxury with PORSCHE DESIGN HONOR Magic7 RSR at LEAP 2025    Chinese film stirs national pride, rakes in $1bn in days    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CMA says ‘Nafith' increases level of data confidentiality
The Saudi Gazette Published in The Saudi Gazette on 18 - 08 - 2016

The Saudi Capital Market Authority (CMA) said the electronic system which connects CMA and the Ministry of Justice (Nafith) has reduced the average time for executing judicial orders up to 85%. The process of executing judicial orders, before applying Nafith system, was 20 to 25 business days, while now, using Nafith, the execution of judicial orders is done within 3 to 5 working days.
The automated system, which was developed by CMA and inaugurated by CMA Chairman Mohammad Aljadaan and Minister of Justice Dr. Waleed Alsamaani, aims to enable execution judges to carry out judicial orders through an electronic path connecting the Ministry of Justice with CMA. It also enables execution judges to carry out judicial orders relating to disclosure, seizure, lifting seizures and executing on securities and funds automatically to accelerate the pace of executing rulings without any delay.
The electronic link between CMA and the Execution Circles at the Ministry of Justice as well as the Authorized Persons and the Saudi Stock Exchange (Tadawul) started in early 2016. The official launch was during the holy month of Ramadan. Receiving paper judicial orders from Execution Circles has been ceased since July 11, 2016.
CMA received a total of 36,657 e-judicial orders since the launch of the system earlier this year until the end of July. Reports show that the system contributed in reducing the paperwork received by CMA relating to judicial orders by 75%. It has also reduced paperwork issued by CMA relating to judicial orders by 80%.
In addition to rapidly enforcing judicial orders, project Nafith contributed to the increase of level of confidentiality of data and improved the accuracy of data. Bank checks are now disposed of and replaced by wire transfers to the IBAN of the Execution Circle.
CMA receives requests from people with rights – as investors or heirs – and civil courts. The Legal Affairs and Enforcement at CMA deals with such requests through the Enforcement Division in coordination of the Authorized Persons and The Saudi Stock Exchange (Tadawul).

Clic here to read the story from its source.