In reference to The rule No. (5) stated within Chapter II of the Account Opening Rules notified under SAMA Circular No. (65681/67) dated 01/11/1440 H related to Inoperative Accounts.

We inform you of the amendment to the mentioned rule as outlined below:

First: Editing the introduction to the definition of Inoperative Accounts to read as follows: "Accounts, relationships and transactions shall be considered non-moving after two calendar years from the date of the last financial transaction carried out by the customer, his/her authorized representative, or his/her heirs. Inoperative accounts are divided into three types as described in this Rule. The purpose of this Rule is to keep accounts active, save the customer assets (money) that have not been used for a financial transaction (withdrawal or deposit – depending on the nature of the relationship), recorded debit transactions, or documented correspondences during the period specified in Article (5.2) ..."

Second: Amendment of Clause (First) of Paragraph No. (5-1) Including transactions to which the rule applies to be as follows: "Inoperative current and saving accounts on which no financial transaction (withdrawal or deposit) has been carried out by the customer, his/her authorized representative, or his/her heirs".

Third: Edit Paragraph No. (5-2-1) including the provisions of active accounts to be as follows: "Accounts shall be considered active if no more than (24) calendar months have passed since the last recorded financial transaction (withdrawal or deposit, depending on the nature of the relationship) carried out by the customer, his/her authorized representative, or his/her heirs, or since the last reliable and documented correspondence".

Fourth: Edit Paragraph No. (5-2-2) including the provisions regarding dormant accounts to be as follows: "Accounts shall be considered dormant after completing (24) calendar months from the date of the last recorded financial transaction (withdrawal or deposit, depending on the nature of the relationship) carried out by the customer, his/her authorized representative, or his/her heirs, or the last reliable and documented correspondence".

Fifth: modification Paragraph No. (5-2-3) Including the provisions for unclaimed accounts to be as follows: "Accounts shall be considered unclaimed after completing five years (60 months), including the dormant phase, from the date of the last recorded financial transaction (withdrawal or deposit, depending on the nature of the relationship) carried out by the customer, his/her authorized representative, or his/her heirs, or the last reliable and documented correspondence, and the bank becoming unable to reach the customer after using all methods of contact."

For your information and to act accordingly as of this date.