Regulatory Alerts2025-01-09
Updated List for Amounts Excluded from Seizure under Judicial Orders
The Saudi Central Bank issued a circular attaching an updated list of customer account amounts exempt from judicial seizure, specifying the applicable coding and claimable percentages for custodian expenses and medical error compensation. Banks are required to apply these specific reference codes to relevant transfers in compliance with the Execution Law and Ministry of Justice arrangements. The updated list takes effect immediately, reinforcing financial institutions' responsibility to accurately classify and process these exempt funds.
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