Regulatory Alerts2018-04-17
Requirement for customer (natural person) signatures on all pages of contracts and agreements
The Saudi Central Bank mandates that all financing companies operating in the Kingdom obtain the signature of natural person customers on every page of all contracts and agreements they enter into. This directive, effective immediately, aims to ensure transparency, verify customer awareness of terms and conditions, and uphold fair treatment standards under the Financing Companies Control System. While applying this mandate to legal entities remains optional, financing companies retain full liability for any risks arising from unsigned pages in such agreements.
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