Skip to main content

Instructions for Payment of Amounts to Beneficiaries of the Citizen Account Program

No: 391000034675 Date(g): 13/12/2017 | Date(h): 25/3/1439

Effective from 2017-12-13 - Dec 12 2017
To view other versions open the versions tab on the right

Referring to Cabinet Resolution No. 197 dated 1438/03/23 AH, which established the Citizen Account Program and assigned the Ministry of Labor and Social Development as the implementing agency for the program, and referring to the letter from the Assistant Minister of Finance for Financial Affairs and Accounts, No. 92444, dated 1438/08/22 AH, based on the letter from the Minister of Labor and Social Development, No. 54996, dated 1438/8/7 AH, regarding the disbursement of financial entitlements for beneficiaries of the Citizen Account Program.

In preparation for the disbursement of financial entitlements for beneficiaries of the Citizen Account Program, the identification code has been set as Code (CIT) in field 26T and code /CITIZEN/ in field 70. This will identify the amounts to be transferred from the Citizen Account Program at Al Rajhi Bank to the beneficiaries' accounts, facilitating the identification of the purpose of the transfer and distinguishing it from other transfers, such as salary transfers. Banks must comply with the following instructions:

First/ Do not deduct or withhold any amounts for debts owed to the bank from the amounts transferred from the Citizen Account Program to the beneficiaries' accounts.
Second/ Do not consider the financial entitlements of the beneficiaries of the program in their financial solvency and creditworthiness.
Third/ Do not deduct or withhold any amounts from the entitlements of beneficiaries of the Citizen Account Program due to any judicial or other attachments.*

 For your information and action accordingly. The Central Bank hopes for the cooperation of all banks in supporting the national program "Citizen Account."


* This item has been amended by Central Bank Circular No. (391000044874), dated 1439/4/17 AH, corresponding to 2018/1/4 AD.