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10.1.2 Instructing Banks to Stop Dealing with Customers
No: GDBC-656810000067-1440H
Effective from Jan 31 2025 - Jan 30 2025 To view other versions open the versions tab on the right
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Upon receipt of requests to stop dealing with customers, banks shall ban such customers from managing their existing banking relationships and shall not
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be allowed to establish new relationships or carry out debit transactions. The ban shall be imposed in respect of the customer’s funds and in his/her personal capacity only,
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and shall not include the fact that the customer is a guardian, curator, legal agent or a person authorized to manage accounts not opened in his/her name, unless otherwise provided in SAMA's request.
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If the stop dealing order is issued for a specific period of time, the order shall be automatically lifted upon the expiry of the period.
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If the stop dealing order is issued with an attachment order, the stop dealing order shall be automatically lifted upon lifting the attachment order by the bank.
