2. General Provisions
| No: 42066419 | Date(g): 1/5/2021 | Date(h): 20/9/1442 | Status: In-Force |
Translated Document
| 2.1 | These instructions aim to clarify the obligations of banks according to the provisions of the Law and Regulation, as well as to facilitate banking transactions related to bankruptcy procedures. | ||
| 2.2 | These instructions do not affect the provisions of the Law and Regulation, as well as other related regulations and instructions, including- For example but not limited to- the following: | ||
| Rules on Management of Problem Loans, issued by SAMA Circular No. (41033343) dated 11/05/1441 H. | |||
| Account Opening Rules, issued by SAMA Circular No. (65681/67) dated 01/11/1440 H. | |||
| Regulations for Bankruptcy Procedures in Commercial Courts, issued by Minister of Justice Decision No. (6421) dated 21/03/1441 H. | |||
| SAMA Circular No. (42025830) dated 21/04/1442 H, concerning the affirmation of Non-Refusal to Seize the Bank Guarantee Letter to Initiate Bankruptcy Proceedings and Suspend Claims Against the Issuing Customer | |||
| SAMA Circular No. (42016471) dated 16/03/1442 H, concerning the importance of adhering to the regulations related to the commercial environment and credit transactions. | |||