Responding to the Requests of the General Secretariat of the Committees for Resolution of Banking and Financial Disputes and Violations
No: 42048729 Date(g): 24/2/2021 | Date(h): 13/7/1442 Status: In-Force Translated Document
Further to the instructions issued by the Saudi Central Bank's Circular No. (41/2307) dated 09/09/1439 H Including the affirmation of the importance of promptly responding to judicial authorities in cases filed before them and the commitment to replying to their requests within the specified statutory periods, as well as the commitment to receiving judicial judgments and decisions and working on their implementation as quickly as possible. Based on the tasks entrusted to the General Secretariat of the Committees for Banking and Financial Disputes and Violations according to the Rules of Procedure of the Banking Disputes Committee, the Appeal Committee for Banking Disputes and Violations, and the Rules of Procedure of the Committee for the Resolution of Financing Disputes and Violations, and the Appeal Committee for the Resolution of Financing Disputes and Violations, issued by Royal Order No. (713) dated 04/01/1438 H, which included the duty of the General Secretariat to prepare the cases.
And as the preparation of lawsuits aims to ensure that the parties of the case have submitted their defenses and reply memorandums, including supporting documents for their defense, before the first session is held. This allows the court to study them and form its conviction, positively impacting the consideration of cases and contributing to reducing the duration of litigation by enabling judicial panels to issue their decisions in a short period of time.
Accordingly, the Central Bank emphasizes to all banks and financing companies operating in the Kingdom the necessity to respond to requests from the General Secretariat for the preparation of claims and to adhere to the timeframes mentioned in the attached schedule. In the event of being unable to comply with the specified timeframes, an immediate response to the Secretariat is required to clarify the reason for the inability to meet the deadline, in addition to specifying the period within which the required information will be provided, which should not exceed 30 days from the date of the General Secretariat's request.
For your information and action effective immediately. Please be aware that the central bank will take the necessary regulatory measures in case of non-compliance.
Annex
The Type of Document Required
The Specified Time
Contracts and Agreements
Ten business days from the date of the request
which proves the tenant's trespass and negligence
Ten working days from the date of the request
Account Statements
Ten working days from the date of the request.
The evidence that demonstrates the tenant's benefit from the rented property
Ten business days from the date of the request
The document/proof that confirms the total loss of the rented vehicle
Ten business days from the date of the request
The records of increase for trust funds
Ten business days from the date of the request
The Authorized Signature Document for the Client
Ten business days from the date of the request
Call recording
Ten business days from the date of the request
visual representation
Ten business days from the date of the request.
Inventory Report
Ten working days from the date of the request
Journal Strip
Ten business days from the date of the request
Remittance documents
Ten business days from the date of the request
SWIFT messages
Ten business days from the date of the request
The documents verifying point of sale transactions
Ten business days from the date of the request
Cardholders' objections to transactions made on their credit cards
Ten working days from the date of the request.
Response from Credit Card Companies (Visa/Mastercard)
Ten working days from the date of the request
Proof of payment amounts to credit card companies
Ten business days from the date of the request.
What proves the customer's receipt of (the credit card / account statements / checkbook, etc.)
Ten business days from the date of the request.
Authorization Documents for Accounts
Ten working days from the date of the request
The document proving the representative's authority over the account
Seven business days from the date of the order.
A copy of the permanent order
Ten working days from the date of the request
Settlement
Seven working days from the date of the request
A copy of the check
Seven business days from the date of the request
Objection Form
Seven business days from the date of the request
A verdict issued in a previous lawsuit related to the subject of the current lawsuit
Seven business days from the date of the request.
Emails
Seven business days from the date of the request
The customer's acknowledgment on any subject
Seven business days from the date of the request.
What proves the request of the beneficiary parties to extend/confiscate the letters of guarantee
Seven business days from the date of the request
Approval of documents related to the letter of credit
Seven business days from the date of the order
The document that proves the payment of the Letter of Credit amounts to the beneficiary
Seven business days from the date of the request
The promissory note issued by the client
Seven working days from the date of the request
Sponsorship Documents
Seven business days from the date of the request
Mortgage documents
Seven business days from the date of the request.
Contact details for the customer's communication with the bank
Five business days from the date of the request
Identifying the disputed operations
Ten business days from the date of the request
The orders of seizure issued by the Saudi Central Bank
Seven business days from the date of the request
An agency contract authorizing the agent to plead
Three business days from the date of the request.
What proves the account status
Seven working days from the date of the request.
What proves the request to cancel the transfer (time and date)
Seven business days from the date of the request.
The Medical Questionnaire
Seven working days from the date of the request
The proof of the client concealing their health condition at the time of contracting
Ten business days from the date of the request
Different extracts from the bank systems
Ten business days from the date of the request
The assets challenged for forgery
Fifteen working days from the date of the request