DarbUnderstanding KYB and KYC Verification at Darb
What KYB and KYC mean, why Darb verifies your business, and which documents you'll need.
As a licensed fintech company regulated by the Saudi Central Bank (SAMA), and in partnership with regulated financial institutions, Darb is required to verify and periodically review your business and personal information. This ensures regulatory compliance, helps prevent fraud, and maintains the security of your financial transactions.
Why we verify your information
Under Saudi regulations, financial institutions like Darb must:
- Verify the identity of key individuals in your business (KYC – Know Your Customer)
- Confirm business ownership, structure, and activity details (KYB – Know Your Business)
- Collect this information during onboarding and keep it updated
- Conduct regular reviews to ensure information remains accurate and compliant
These checks help protect your business and Darb from misuse, fraudulent activity, and regulatory breaches.
Know Your Business (KYB)
KYB is the process of verifying your business's legal status, ownership, and structure. Darb verifies:
- Your business's commercial registration (CR) and legal entity type
- Tax and ZATCA registration information (if applicable)
- Ownership structure and key shareholders
- Authorized contact information
Know Your Customer (KYC)
KYC is the process of verifying the identity of individuals who own or control your business. For corporate accounts, Darb verifies controlling officers (such as CEOs, authorized signatories, or board members) and beneficial owners — individuals who ultimately own or control the company.
For each individual, we may need to verify:
- Validity of government-issued ID (e.g., National ID / Iqama)
- National Address in Saudi Arabia
- Contact details (mobile & email)
- Authentication through Nafath
Required Information and Documents
- Company Unified Number (starting with 70)
- Authorized Person Email Address
- Company Article of Association & Bylaws
- Authorized signatory's National ID or Iqama
- Power of Attorney letter (if signing on behalf of another authorized person)