RIYADH - The Capital Market Authority (CMA) has launched an electronic service to disclose the investment assets of the deceased persons.

This service allows the heirs or their power of attorneys and authorized persons from the authority to view the securities and investment accounts belonging to the deceased persons through direct contact with the Saudi Securities Depository Center Company (Edaa), the Saudi Press Agency reported.

This is part of CMA’s measures to develop the capital market system and strengthen trust in it with facilitating the disclosure procedures and helping the heirs to expedite the completion of the inventory process of the assets of the deceased.

This service allows the heirs to submit requests for disclosure through the CMA website on specific terms, as well as access to the investment data of the deceased at any time. Before launching the e-service, the CMA had received requests to inquire about the investment assets of the deceased through the personal presence of the heirs at the authority’s headquarters. More than 500 applications were received during 2017, and these figures rose 20 percent to over 600 in 2018.