Book traversal links for آلية الإبلاغ عن القرارات القضائية الصادرة ضد بعض المؤسسات المالية
Mechanism for Reporting Judicial Decisions Issued Against Certain Financial Institutions
Date(g): 15/5/2022 | Date(h): 14/10/1443 |
Translated Document
Effective from 2022-05-15 - May 14 2022
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Referring to the Royal Order No. 14388 dated 25/03/1439 H, which mandates the adoption of the following electronic means for judicial notifications (text messages sent via verified mobile phones, email, and notifications through any registered accounts in governmental automated systems) and after notifying through these means to the intended recipient, and referring to what is stated in paragraph (14) of Article 34 of the Implementing Regulations of the Enforcement Law, which states that " No service at a place of residence shall be conducted prior to sunrise or after sunset. The judge may, if necessary, order the service to be made at any time. ".
Based on the above, SAMA emphasizes to financial institutions the importance of utilizing the 'Electronic Authorization' service provided by the Ministry of Commerce. This service allows financial institutions to add an authorized representative to receive judicial notifications issued against them, in addition to the ability to access all judicial orders issued for or against the financial institution through the 'Najiz Portal.' This will enable financial institutions to resolve claims within the notification period stipulated in Article 34 of the Enforcement Law, thereby avoiding the initiation of enforcement actions by the competent court against the financial institution as outlined in Article 46 of the same law (attached is the guide for electronic authorization).