Regulatory Alerts2021-03-31
Added · Updated
Circular on Providing Clients with Account Documents Despite Legal Disputes
The Saudi Central Bank mandates that banks operating in the Kingdom must provide clients with copies of contracts, notifications, data, and account statements, even when legal disputes exist between the parties. This directive enforces compliance with Article 44 of Banking Law No. 28 of 2000 and Article 24 of the Instructions on Dealing with Customers Fairly and Transparently No. 56/2012. The order explicitly prohibits banks from withholding these documents under the pretext of pending litigation.
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