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Client Signature on all Contract and Agreement Pages

No: 391000080993

Translated Document

Effective from 2018-04-04 - Apr 03 2018
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Further to SAMA circular No. (391000020013), dated 20/02/1439H, Regarding the requirement for banks to obtain the customer's signature on all pages of contracts and agreements in which they are a party. Due to inquiries about the meaning of 'customer' referred to in the circular.

I would like to inform you that 'customer' refers only to natural persons, and banks have the option to apply this requirement to legal entities.

 The central bank emphasizes that banks are responsible for the risks associated with the failure of customers who are legal entities to sign all pages of contracts and agreements.