RegAlertRule · CBJ · 17 Jul 2018
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.
No.: 27/2/9421
Date: 4/11/1439 Hijri
Corresponding to: 17/7/2018
Circular to banks operating in the Kingdom
After Greetings,
Recently, it has been noticed that some banks have refrained from providing their clients with copies of contracts signed with them, notifications, data, or statements related to their accounts under the pretext that there are cases lodged against these clients. Therefore, I would emphasize the full compliance with the provisions of Article (44) of Banking Law No. (28) of 2000 and its amendments, and the provisions of Article (24) of the Instructions on Dealing with Customers Fairly and Transparently No. (56/ 2012) dated 31/10/2012, by providing clients with copies of contracts, notifications, data, or statements related to their accounts with the bank, even if there is a legal dispute between the bank and the client. Respectfully, Governor Dr. Ziad Fariz
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: Superseded
A newer document in RegAlert replaces this one.
The links and the sentences they come from (2)
- Superseded by
“Circular No. (27/2/9421) dated 17/7/2018.”
- Issued under
“compliance with the provisions of Article (44) of Banking Law No. (28) of 2000 and its amendments”
Mentions (1): 1 document this one mentions without changing it
- Refers to
“provisions of Article (24) of the Instructions on Dealing with Customers Fairly and Transparently No. (56/ 2012) dated 31/10/2012”
Timeline
Amended 1 time · last 2024-09-26
- 2024-09-26
CBJFinancial Consumer Protection Instructions for the Banking Sector (14-2024)supersedes
Similar documents from other regulators
PMACircular No. 156: Providing Borrowers and Guarantors with Copies of Documents Signed by ThemPalestine · 2021-08-02
More like this from CBJ
CBJ published 3 documents in the last 30 days. We email you each new one the day it's published.
Source: Central Bank of Jordan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated