A number of Saudi businesswomen, who make use of social media networks to promote their products and services, have expressed their indignation over the messages they receive from banks asking them to clarify the source of amounts credited in their accounts. Talat Hafiz, secretary-general of media and banking awareness committee at Saudi banks, advised customers not to mix their personal accounts with business accounts to avoid such questioning. "Banks will inform security agencies when they receive suspicious amounts and foreign remittances into the accounts of clients to check the source of amount," he told Makkah Arabic daily. Hafiz said bank dealings are subject to the principle of Know Your Client and bank should have complete information about the client and source of his/her income. "They have to make sure whether the deposit was lawful complying with the nature of the account or not," he said. "The client's dealing with the customer service should be transparent to avoid suspicion." Businesswoman Haya Nasser said she does not have any business establishment but conducts trade dealings through the social networking sites to advertise on products and small firms on the basis of specific amounts agreed upon by the two sides. "We publish the ad after receiving the bank remittance. I was surprised when I got a message from the bank asking the source of the amount," she told the newspaper. "When I contacted the customer service official she asked me to provide documents to prove my trade dealings." Nasser said many Saudi women make use of social networking sites to engage in various business activities because it is free from complications and routines compared to running the business through a shop or establishment. "Such business firms will require huge amounts in investment. It also requires opening of a business account in the bank," she added. "To avoid these complications we went to the social media sites to promote our products and win the confidence of clients who transferred their money to our personal accounts." Abeer Al-Otaibi another trader, said she was not against the law and system. She added: "We lack a regulatory umbrella to work under its roof. "The Ministry of Commerce and Industry should soon introduce a system for social media business projects. This will help us continue our trade activities following the government's rules and conditions," she added. She said the projects are now popular and transfers would not exceed SR1,000. "I know that so many of my friends practice this business and most of them have not received any such embarrassing messages from banks. The difference is my trade and money transfers I receive are bigger than theirs." Hala Al-Saeed also found the trading through social media successful and profitable. She urged young women to enter and develop this field of trade. "What we need is trustworthiness and the ability to establish better dealings with customers. It will help promote their business and win the confidence of customers."
