Exclusion of Expatriates Working for Distressed Companies from the Freezing of Funds
| No: 25265/67 | Date(g): 28/12/2018 | Date(h): 20/4/1440 | Status: Modified |
Effective from 2018-12-28 - Dec 27 2018
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Following the instructions issued by the Central Bank under Circular No. 391000020013 dated 20/2/1439 AH, which stipulates that the client must sign all pages of contracts and agreements they are a party to, 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 client to sign only once on the last page of the bank account opening agreement instead of signing 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 retain all models of bank account opening agreements in their various versions and updates, and publish them on the bank's website for clients to access and read. |
| 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 this date.