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First: Transaction Processing Timelines

No: 381000122205 Date(g): 10/9/2017 | Date(h): 19/12/1438 Status: In-Force

Translated Document

Effective from 2017-09-24 - Sep 23 2017
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  1.  To immediately initiate the completion of banking procedure transactions received from SAMA, without exceeding the following timelines:

    Transaction CategoryMaximum Completion Time
    Judicial Banking ProceduresTwo working hours
    Civil (General) Banking ProceduresTwo working Days
    Security Banking ProceduresTwo working Days
  2. In the event that there is no relationship with the person (individual/legal entity) at the bank/company, a response to that effect must be provided on the transaction immediately.
  3. SAMA may, at any time and whenever necessary, reduce the maximum completion time for some of the banking procedure transactions outlined in paragraph (1) of section (First), and banks and companies must complete the transactions within the specified periods.