Responding to the Requests of the General Secretariat of the Committees for Resolution of Banking and Financial Disputes and Violations

[Saudi Central Bank Logo] Saudi Central Bank Saudi Central Bank

Circular

Number: 42048729 Date: 1442/07/13 Attachments: 2 pages

To: Respected,

Peace, mercy and blessings of God be upon you,

Subject: Responding to the Requests of the General Secretariat of the Committees for Resolution of Banking and Financial Disputes and Violations.

In continuation of the Saudi Central Bank instructions communicated via Circular No. (2307/41) dated 1439/09/09 AH, which emphasize the prompt response to judicial authorities in cases brought before them, compliance with responding to their requests within specified statutory deadlines, and the obligation to receive judicial rulings and decisions and implement them as soon as possible. And based on the duties assigned to the General Secretariat of the Banking and Financial Disputes and Violations Committees under the rules of procedure for the Banking Disputes Committee, the Appellate Committee for Banking Violations and Disputes, the rules of procedure for the Financial Violations and Disputes Resolution Committee, and the Appellate Committee for Resolving Financial Violations and Disputes, issued by Royal Order No. (713) dated 1438/01/04 AH, which include the General Secretariat's preparation of cases.

Whereas case preparation aims to ensure that the parties to a case have submitted their defenses and reply memoranda, including supporting documents, before the first session convenes, allowing the court to study them and form its conviction, which positively impacts case adjudication and contributes to reducing litigation duration through judicial departments issuing their decisions within a short period.

Accordingly, the Saudi Central Bank confirms that all banks and financing companies operating in the Kingdom must respond to the General Secretariat's requests for case preparation, and adhere to the timeframes indicated in the attached table. In case of inability to comply with the specified deadlines, an immediate response to the Secretariat is required to clarify the reason for non-compliance within the specified period, along with specifying the timeframe for providing the requested items, which must not exceed (30) days from the date of the General Secretariat's request.

For information and action as of its date, noting that the Saudi Central Bank will take the necessary statutory measures in case of non-compliance.

Yours sincerely,

Fahd bin Ibrahim Al-Shathri Deputy Governor for Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.
• Financing companies operating in the Kingdom.

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Appendix

Type of Required Document	Specified Timeframe
Contracts and agreements	Ten working days from the date of request
Documents proving tenant's breach and negligence	Ten working days from the date of request
Account statements	Seven working days from the date of request
Documents proving tenant's benefit from the leased property	Ten working days from the date of request
Documents proving the condition of the leased vehicle (destruction/loss)	Ten working days from the date of request
Trust fund increment records	Ten working days from the date of request
Customer's authorized signature document	Ten working days from the date of request
Visual recording (CCTV/video)	Ten working days from the date of request
Call recording	Ten working days from the date of request
Inventory report / Minutes of inventory	Ten working days from the date of request
Journal tape / Ledger tape	Ten working days from the date of request
Remittance documents	Ten working days from the date of request
SWIFT messages	Ten working days from the date of request
Documents proving point-of-sale (POS) transactions	Ten working days from the date of request
Credit cardholders' objections to transactions on their cards	Ten working days from the date of request
Responses from credit card companies (Visa/Mastercard)	Ten working days from the date of request
Documents proving payments to credit card companies	Ten working days from the date of request
Documents proving customer's receipt (credit card/account statements/checkbooks, etc.)	Ten working days from the date of request
Account authorization documents	Ten working days from the date of request
Documents proving the authorized person's account powers	Seven working days from the date of request
Copy of the perpetual order (domiciliary)	Ten working days from the date of request
Settlement receipt / Discharge document	Seven working days from the date of request
Copy of the check	Seven working days from the date of request
Objection form / Statement of objection	Seven working days from the date of request
Ruling issued in a previous case related to the subject of the current case	Seven working days from the date of request
Email messages	Seven working days from the date of request
Customer's acknowledgment on any matter	Seven working days from the date of request
Documents proving beneficiary's request to extend/forfeit guarantee letters	Seven working days from the date of request
Documents related to documentary credits (LCs) approval	Seven working days from the date of request
Documents proving payment of documentary credit amounts to the beneficiary	Seven working days from the date of request
Promissory note/order issued by the customer	Seven working days from the date of request
Guarantee documents	Seven working days from the date of request
Mortgage/collateral documents	Seven working days from the date of request
Customer's contact addresses at the bank	Five working days from the date of request

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Type of Required Document	Specified Timeframe
Identification of disputed transactions	Ten working days from the date of request
Seizure orders issued by the Saudi Central Bank	Seven working days from the date of request
Valid power of attorney authorizing the agent to litigate	Three working days from the date of request
Documents proving account status	Seven working days from the date of request
Documents proving remittance cancellation request (time and date)	Seven working days from the date of request
Medical questionnaire / Health survey form	Seven working days from the date of request
Documents proving the customer's concealment of health status at contracting	Ten working days from the date of request
Various extracts from bank systems	Ten working days from the date of request
Assets subject to forgery claims	Fifteen working days from the date of request