Regulatory Alerts2004-06-05
The Indication of the Place Where the Check Was Issued (the City in Which the Drawer Resides)
The Saudi Arabian Monetary Authority mandates that all banks operating in the Kingdom include the drawer's city of residence next to his name on checks. This requirement addresses observations that missing place-of-issuance details cause checks to lose their commercial instrument value under Articles 91 and 92 of the Negotiable Instruments Law. Banks are instructed to ensure this location is explicitly printed on all newly issued checkbooks for their clients.
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