Customer Signature on Bank Account Agreements
| No: 29811/67 | Date(g): 17/1/2019 | Date(h): 11/5/1440 | Status: In-Force |
Translated Document
Further to instructions issued by SAMA under Circular No. 391000020013 dated 20/2/1439H, which stipulates that the customer must sign all pages of contracts and agreements to which they are a party, ensuring that they are aware of all terms of the agreement.
To facilitate the process of opening bank accounts, it has been decided to allow the customer to sign only once on the last page of the bank account opening agreement instead of signing on each page, according to the following controls:
| First: | Each agreement must have a reference number (issuance number) clearly and prominently written on every page, including the last page signed by the client. |
| Second: | The total number of pages of the agreement must be clearly and prominently stated on the page where the client signs. |
| Third: | The bank must keep all forms of bank account opening agreements in their various issuances and updates and publish them on the bank website to allow them to be viewed and read by customers. |
| Fourth: | The last page signed by the client must include a statement confirming that the client has reviewed and agrees to all terms of the agreement. |
For your information and to act accordingly within (40) working days from its date.