Effective from Jan 01 2024 - Dec 31 2023 To view other versions open the versions tab on the right
Bank accounts in Saudi Riyal only may be opened for any verdict execution administrations, divisions or sections, or for rights units at police centers. The following requirements shall be fulfilled:
1.
The bank shall receive a letter from the head of the verdict enforcement administration, division or section, or from the head of the police center, requesting opening a bank account and specifying its purpose and authorized signatories.
2.
The account name shall be “the Ministry of Interior, Public Security, Verdict Enforcement Administration in … (Region/City/Governorate)-Personal Debt Settlement Account”.
3.
The account shall be operated under a joint signature of at least two persons. One of them shall be the head of the verdict enforcement administration, division or section (or the head of the police center) or his/her deputy. The other signatory shall be the treasurer or his/her deputy (principal signatory).
4.
The bank shall obtain copies of the authorized signatories’ IDs and their specimen signatures.
5.
Funds shall be deposited in the account only by the debtor, his/her family, and their representatives via the following means:
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Bank checks in the following form: “Pay to the order of Civil Rights Department in … Region/ City/Governorate-Personal Debt Settlement Account”. The purpose of the check shall be written on it as follows: “Repaying the debt of... (debtor’s name and national ID number), Case/Verdict/Resolution No. ... dated ...”.
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Bank transfers, provided that all the required information of the transferor and the transfer purpose are indicated.
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Points of sale.
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Cash acceptance machines.
6.
Withdrawal from the account shall be made only by checks signed by the authorized persons mentioned in point (3) above. The check shall be in the following form: “Pay to... (name of the creditor)”. The purpose of the check shall also be written on it as follows: “Repaying the debt of ... (debtor’s name and national ID number), Case/Verdict/Resolution No. ... dated...”.
7.
ATM cards and/or credit cards shall not be issued for this account. Moreover, fund transfer from such account shall not be allowed.
8.
The compliance officer at the bank shall ensure that all the abovementioned requirements are fulfilled and documents are verified.
9.
The bank shall send a free detailed account statement to the concerned civil rights department every month, or whenever requested.
