cd M a P

SABB Corporate
Account Opening Form

Customer Name: _______________________________________________________________________________________________________________________

Account Number: ______________________________________________________________________________________________________________________
CR Number: ______________________________________________________________________________________________________________________________

AOF

ICG ee .CG

A. ENTITY INFORMATION

ICG UJ .1

1. Entity Details

:ICd QdG SEG

Entity Name: ______________________________________________________________

_________________________________________________________

________________________________________________________________________________

_________________________________________________________________________________

Nearest SABB branch location: _________________________________________

__________________________________________________________

Legal Status:
________________________________________________________________________________

:S `d be bG
:fdG VdG

_________________________________________________________________________________

IOh dhDe GP cT

Limited Liability Company:

jOa SDe

Sole Proprietorship:

SCdG cT

Company Under Formation (escrow):

General Partnership Company

:eJ cT

Limited Partnership Company

:H UJ cT

Foreign Company

:LCG cT

Listed Stock Company

ge cT

Others (specify): _________________________________________________________

__________________________________________________________________

:(OM) iNCG

:QdG dG bQ

C.R. Number:
C.R. Issue Date:

D D MM Y Y Y Y

:QdG dG QGUEG jQJ

C.R. Expiry Date:

D D MM Y Y Y Y

:QdG dG AfG jQJ

:CG H

Country of Incorporation: ______________________________________________

______________________________________________________________________

________________________________________________________________________________

_________________________________________________________________________________

Business Type as per CR: _____________________________________________

______________________________

________________________________________________________________________________

_________________________________________________________________________________

:QdG dG `a Qce g e M dG f

(HSBC) S H SG JG Y e M CG jd g

Do you have an account with any HSBC Office?

Yes*
No

*If yes, please provide the Account Number (s), Country

*f

:jGh dG SG ,HG/G bH fjhJ ALdG ,f HLEG fc GPEG*

& City: ______________________________________________________________________

_________________________________________________________________________________

________________________________________________________________________________

_________________________________________________________________________________

:NdG bQ

SAGIA Licence No.:

Issue Date:

D D MM Y Y Y Y

: QGUEG jQJ

Expiry Date:

D D MM Y Y Y Y

:AfG jQJ
:iNCG NGJ

Other Licence No.:

Issue Date:

D D MM Y Y Y Y

: QGUEG jQJ

Expiry Date:

D D MM Y Y Y Y

:AfG jQJ

Issuing Authority: ________________________________________________________

Number of Employees:

___________________________________________

Number of Branches: _____________________________________________________

_________________________________________________________________

:IQG G

:XG OY
_______________________________________________________________________ :hdG OY
__________________________________________________________

AOF
A.Subsidiaries

SG

(je / H) bG

Name

Location (Country/City)

Ownership

B. Branches

dG

jG

Country

City

QdG dG bQ

dG f

CR Number

Activity type

1.
2.
3.
4.
5.
Group name (parent company) (if any): ______________________________

_________________________________________

:(Lh EG) CG cdG / YG SG

___________________________________________________________________________________

___________________________________________________________________________________

Legal Entity Type for the Parent Company: ________________________

______________________________________________________

___________________________________________________________________________________

___________________________________________________________________________________

Country: ______________________________________________________________________

___________________________________________________________________________

Country: _______________________________________________________________________
City: ____________________________________________________________________________
Zip Code: _____________________________________________________________________
P.O. Box: _____________________________________________________________________
Contact No.: __________________________________________________________________
Fax No.: ______________________________________________________________________
Email: __________________________________________________________________________
Website: ______________________________________________________________________

:dG
___________________________________________________________________________ :jG
___________________________________________________________________ :jdG edG
___________________________________________________________________________ :.U
___________________________________________________________________________ :Jg
_____________________________________________________________________ :cdG bQ
________________________________________________________________ :hdEG jdG
_________________________________________________________________ :hdEG bG
____________________________________________________________________________

ICd dG dH fjhJ ALdG

Please Provide Ownership Structure

1.
2.
3.
4.
5.
6.
7.
2

SEG

:dhdG

G H `a ICG GY (jOdG) d

(For Non Saudi) Entity address at home country

Name

:CG cd fdG dG

Nationality

Share (%)

(%)G

AOF

jQdG fG ee .

B. BUSINESS INFORMATION

:(eG ee hG FdG jOQe)ICd jOQe gG cP Lj .1

1. Please list top suppliers for this entity:

hOQG

Suppliers

edG b
Value

YdG
Goods

dG

Country

GG OY

Frequency

adG jW
Payment

LC Open Account/TT
LC Open Account/TT
LC Open Account/TT
LC Open Account/TT
LC Open Account/TT

FH / eN d J dG ICG AY gG cP Lj .2
:(OGaCG ASEH)

2. Please list top buyers this entity is dealing with

(excluding retail customers):

(fdG SG) ICG AY

Buyers (Full legal name)

edG b
Value

YdG
Goods

dG

Country

GG OY

Frequency

adG jW
Payment

LC Open Account/TT
LC Open Account/TT
LC Open Account/TT
LC Open Account/TT
LC Open Account/TT

AOF

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C. LATEST FINANCIAL INFORMATION

(Attach the latest audited financials)

(be de FGb NBG aQG ALdG)

de ee

Financial Information
Cash
Account Receivables
Inventory
Other Assets
Total Assets
Financial Income
Sales / Revenues
Expenses
Net Income

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jG HM
hG
iNCG UCG
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FGO
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Debts
iNCG eGdEG
Other Liabilities
eGdG LEG
Total Liabilities
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Equity
dG adG
Cash Flows
dG NO
Cash Flows From Operations
QSG e dG
Cash Flows From Investment
Cash Flows From Financial jdG fG e dG
Account Payables

Source of Funds (SAR)

Business Owner(s)

Sales Proceeds

Return on Investment

Other, please specify: _________________________________________

Entity Auditor (since ___________________________________)

(OdG jdH) ICG GeCG QOe

ICG UG
G
QSEG FGY
_____________________________________________________ :jdG Lj ,iNCG

(____________________________________________________ Y e) :fdG LGG

:(Lh G) e eJ dG iNG dG

Other Banks Information (if any):

iNCG H
ICG e eJ
Other Financial
Institute that Entity
Bank with

FdG G
Main Account

ah j
ICG

Used for Business

Operations

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jQdG
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(GOQGdG
Used for Entitys
Used for
Credit Fecilities

Used for
Trade Service

Payment and
Remittances

1.

2.

3.

4.

5.

AOF

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D. ACCOUNT DETAILS

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1. Account Opening
Type of Account Required

Islamic Current Account (CUC)

Other, please specify: ________________________________________

G G f
QL eSG M
____________________________________________________________ :iNCG
BG dG bH
jOdG SDd a J
(bdG Y j G OJ c) dG SG

ATM
For sole proprietorship only
Name appear on ATM card

Account Currency

SAR

GBP

USD

EUR

Other, please specify: ________________________________________

G Y
OS jQ
dSG L
jeCG QhO
hQj
_____________________________________________________ :jdG Lj ,iNCG

dG
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HY

Language

English

Arabic

Account Statement

Account Statement will be sent to the entity address on

k jT cdG jH G G c SQG j S

monthly basis
Cheque Book Required (For Current Accounts Only)
Yes

G c
(a dG FGOdG HMh jQG Hd)

No

(a jQG Hd) G dG aO

The cheque book (s) will be sent to the entity address:

:JadG OY
________________________________ :cdG jH G G c SQG j S

______________________________________________________________________

___________________________________________________________________________________

______________________________________________________________________

___________________________________________________________________________________

______________________________________________________________________

___________________________________________________________________________________

No. of Books:

E-banking

Yes

No

2. Account opening Purpose (at least one)

Payments

Credit Facilities

Investment

Collection Account

Foreign Exchange

Payroll Account

Export/Import/Guarantee

Cash Management

Other, please specify: ________________________________________

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(MGh QNG bCG Y) G a S .2

Yae
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QSG
M
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f IQGOG
______________________________________________________ :jdG Lj ,iNCG

AOF
bG G cM

2. Account expected transaction

kej

bdG

Number

GjEG

f GjEG
S /

Cash Deposit/
Withdrawal

Deposit

Withdrawal

GjEG
In

GM

Local Transfers

S
Out

jf GM
Qd
Cross Border
Cash Transfer

GjEG
In

S
Out

GjEG
In

Cheques

S
Out

Total
6

kjS

kjT

Daily

Monthly

dG
Value

bdG

Number

Annualy

dG
Value

bdG

Number

SCG

dG
Value

Purposes

dG Qe

Sources of Transaction

dG

Currencies

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AOF
E. CONTACT DETAILS

:SGG GY

Correspondence Address: _____________________________________

_____________________________________________________

___________________________________________________________________

___________________________________________________________________

___________________________________________________________________

___________________________________________________________________

P. O. Box: _______________________________________________________

______________________________________________________

Post Code: _____________________________________________________

City: _____________________________________________________________
Contact 1: _______________________________________________________
Contact 2: _______________________________________________________

Mobile 1: ________________________________________________________
Mobile 2: _______________________________________________________
Mobile 3: ________________________________________________________

:jH hU
____________________________________________________ :jdG edG
___________________________________________________________ :jG
_________________________________________________ :1 JG HV
_________________________________________________ :2 JG HV

:1 GL
__________________________________________________________ :2 GL
__________________________________________________________ :3 GL
__________________________________________________________

:bQ Jg

Telephone Number : ___________________________________________

_______________________________________________________

Office 1: _________________________________________________________

________________________________________________________

Office 2: ________________________________________________________

Fax : _____________________________________________________________
Email : __________________________________________________________

Website/URL Address of the Company

___________________________________________________________________

Companys physical location

Note: Please attach location map
Location: ________________________________________________________

:1 G
________________________________________________________ :2 G
:ca
____________________________________________________ :hdEG jH
___________________________________________________________

cd hdEG bG
___________________________________________________________________

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bG jN aQEG Lj :Me
__________________________________________________________

:bG

___________________________________________________________________

_________________________________________________________________

___________________________________________________________________

_________________________________________________________________

Street: ___________________________________________________________

:QdG
___________________________________________________________ :jG
_________________________________________________________ :G
______________________________________________________ :e dH

City: ____________________________________________________________
Area: _____________________________________________________________
Nearest Landmark: _____________________________________________
Note: Please attach the Saudi Postal confirmation letter for
sole properatorship

JG UJ .`g

__________________________________________________________

OdG jdG SDe GTG fH aQG Lj :Me

jOdG SDd

AOF
Please draw a map below with the directions to your business location (if available)

(Lh G) fOCG ICG b chdG SQ Lj

T
Z

T
L

a FdG JG L ASG h bdH VG ee

Details of Authorised Signatories / Main Contacts only

SCG

Name

dG

Designation

bdH VG
T/
JG
FdG
Authorised
Signatory/
Main Contact

e
QGUG

ID Issue
Place

OG jQJ
Date
of Birth

OG H
Country
of Birth

GdG

Address

AOF
Details Of Partner, Beneficial Owners (BO), Directors (D), Partners (P)
Board Members (BM) Authorised Signatories (AS)

SG
Name

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dG

jdG f

jdG bQ

jdG AfG jQJ

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Designation

ID Type

ID Number

ID Expiry Date

Nationality

Mobile Number

______/_______/_______

dG SCG
*%

Share
Holding %*

*IhdG Qe
Source of
Wealth*

b `aU
jdH GhdG
*OdG

Approximate
Net Worth (SAR)*

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Verification
Contact

Yes No

Yes No
______/_______/_______

Yes No
______/_______/_______

Yes No
______/_______/_______

Yes No
______/_______/_______

Yes No
______/_______/_______

Yes No
______/_______/_______

Yes No
______/_______/_______

*Applicable for owner(s) (only).

**Incase the Entity has more names, please attach additional sheet to cover above information.
***Include at least one contact for transaction verification.
****Beneficial Owners in relation to a corporation (if fulfills any of the following criteria): means an individual who,
- owns or controls, directly or indirectly, including through a trust or bearer shares holding,
not less than 5% of the issued share capital of the corporation; or
- is directly or indirectly, entitled to exercise or control the exercise of not less than 5% of the
voting rights at general meetings of the corporation; or
- exercises ultimate control over the management of corporation; or
- if the corporation is acting on behalf of another person, means the other persons.

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AOF
bJ bH

Signature Specimen Card

Date: ___________/____________/_______________________

`g _______________________/____________/___________ :jQdG

fOCG QdG G `a bdH b a

Please sign within the signature space

Signature Restrictions
Individual

Joint

Withdrawal Limit

No Limit

Up to

Details of signing
authority/additional
information

bdG e
Oe
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dG OhM
M hH
bCG H
/bdG M UJ
aVG ee

_______________________________________________________________
_______________________________________________________________

Name: _________________________________________________________________________
ID Type: _______________________________________________________________________
ID No.: _________________________________________________________________________
Issued By: ____________________________________________________________________
Issued Date: ________________________________________________________________

fOCG QdG G `a bdH b a

Please sign within the signature space

Signature Restrictions
Individual

Joint

Withdrawal Limit

No Limit

Up to

Details of signing
authority/additional
information

:SG
_______________________________________________________________________ :jdG f
_______________________________________________________________________ :jdG bQ
__________________________________________________________________________ :QG
___________________________________________________________________ :QGUEG jQJ
___________________________________________________________________________

bdG e
Oe
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dG OhM
M hH
bCG H
/bdG M UJ
aVG ee

_______________________________________________________________
_______________________________________________________________

Name: _________________________________________________________________________
ID Type: _______________________________________________________________________
ID No.: _________________________________________________________________________
Issued By: ____________________________________________________________________
Issued Date: ________________________________________________________________
Please note:
Signatories must be local citizen or GCC citizen
or expat under sponsorship of this entity

10

:SG
_______________________________________________________________________ :jdG f
_______________________________________________________________________ :jdG bQ
__________________________________________________________________________ :QG
___________________________________________________________________ :QGUEG jQJ
___________________________________________________________________________

:Me ALdG
hO e hCG G OS j CG j bdH VG
.ICG g dc Y e hCG G hdG

AOF
fOCG QdG G `a bdH b a

Please sign within the signature space

Signature Restrictions
Individual

Joint

Withdrawal Limit

No Limit

Up to

Details of signing
authority/additional
information

bdG e
Oe
e
dG OhM
M hH
bCG H
/bdG M UJ
aVG ee

_______________________________________________________________
_______________________________________________________________

Name: _________________________________________________________________________
ID Type: _______________________________________________________________________
ID No.: _________________________________________________________________________
Issued By: ____________________________________________________________________
Issued Date: ________________________________________________________________

fOCG QdG G `a bdH b a

Please sign within the signature space

Signature Restrictions
Individual

Joint

Withdrawal Limit

No Limit

Up to

Details of signing
authority/additional
information

:SG
_______________________________________________________________________ :jdG f
_______________________________________________________________________ :jdG bQ
__________________________________________________________________________ :QG
___________________________________________________________________ :QGUEG jQJ
___________________________________________________________________________

bdG e
Oe
e
dG OhM
M hH
bCG H
/bdG M UJ
aVG ee

_______________________________________________________________
_______________________________________________________________

Name: _________________________________________________________________________
ID Type: _______________________________________________________________________
ID No.: _________________________________________________________________________
Issued By: ____________________________________________________________________
Issued Date: ________________________________________________________________

Please note:
Signatories must be local citizen or GCC citizen
or expat under sponsorship of this entity

11

:SG
_______________________________________________________________________ :jdG f
_______________________________________________________________________ :jdG bQ
__________________________________________________________________________ :QG
___________________________________________________________________ :QGUEG jQJ
___________________________________________________________________________

:Me ALdG
hO e hCG G OS j CG j bdH G
.ICG g dc Y e hCG G hdG

AOF
D. OTHER INFORMATION
1. Does the Entity have any Ultimate Beneficial Owners
with US origin?
Yes
No
If your answer was yes please answer the following
questions:
Any US addresses held for the entity or any of its
partners / directors? Yes
No
If yes, please specify: _____________________________________________
2. Is the main address "Hold mail" or a "C/O" address?
Yes

No

Any US telephone numbers held for the entity?

Yes

No

3. Do any of the signatories have a US address?

Yes

No

4. Are there any standard instructions to send regular

payments to USA?
(reference). __________________________________________________________
Declaration & Acknowledgement

I/ We, the undersigned, hereby declare that I/ We am/are

not legally prohibited to be dealt with, that all information
and data I/ we have given above are true and correct.
I/We would be liable before the competent authorities for
the funds deposited to my/our account by me/us
personally, or deposited by others with or without my/our
acknowledgment. I/We would also be liable whether or not
I/We subsequently dispose personally of these funds, but
I/We failed to formally report to the bank the existence of
such finds. I/We hereby confirm that the funds deposited
are from legal sources, that I/We am/are liable for their
being free from any forgery or counterfeiting and that if the
bank receives from me/ us any counterfeit notes, I/We will
not be refunded or compensated
I/We undertake to update ( Established ID, My/our personal
information, address, income source and signatures at a
frequency defined by the Bank/ regulator failing to do so
the bank has the right to freeze my/ our account(s)
I/We confirm/acknowledge that the mentioned above is
aligned with the basic procedure (if its possible)
I/ We authorize the Bank to collect from and/ or disclose to
the Saudi Credit Bureau (SIMAH) or any appropriate third
parties approved by SAMA. Such information as the Bank
may require at its discretion to establish, review and/ or
administer my/ our accounts or facilities with the bank.
I/We confirm that I/We have read, understood and accepted
the Account opening Terms and Conditions, a copy of
which has been provided to me/ us by the Bank, and I/We
agree to abide to its content
I/We further declare that the Terms and conditions will be
applicable to all types of account that will be opened by me/
us in the future

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_________________________________________________ :jdG Lj ,f GPEG
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_______________________________________________________________ .(Le)
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Name: ___________________________________________________________________ :SG

Name: __________________________________________________________________ :SG

Position: ______________________________________________________________ :XdG

Position: ______________________________________________________________ :XdG

Signature: ______________________________________________________________ :bdG

Signature: _____________________________________________________________ :bdG

Bank use only

(Lh GPEG) cdG N

Company stamp (if applicable)

12

Signature SV

AOF
ACCOUNT OPENING TERMS & CONDITIONS

A. General
1. Definitions:
"ACCOUNT" means the Account which is the subject of the
application on the reverse side of this agreement and any subsequent
Account(s) opened by the same customer.
"ACCOUNTHOLDER" means the applicant for the Account (whether
one person or more and their appointed agents).
"BANK" means the Saudi British Bank or its successors.
2. Terms & Contracts:
a. We (Customer) are not legally prohibited to be dealt with, that all
information and data that we have provided are true and reliable,
and that we have understood the terms, conditions and other
provisions of the account opening agreement.
b. We (Customer) are liable before the competent authorities for the
funds deposited into our account, or deposited by others with or
without our knowledge. We would also liable whether or not
subsequently disposed personally of these funds, but we failed to
formally report to the bank the existence of such funds. We
confirm that funds deposited are from legal sources, that we are
liable for their being free from any forgery or counterfeiting, and
that if the bank receives from us (customer) any counterfeit
notes, we will not be refunded or compensated.
c. We understand and commit that we are responsible for updating
our corporate account data when requested by the bank or
periodically (as specified by the bank) for period of not more than
5 years each. We undertake to provide a renewed documentation
before the expiration of its validity, and we acknowledge that if
we fail to do so, the bank will freeze our account.
3. Authorized Agents/power of Attorney:
A Power of Attorney given by the Accountholder, whether
notarized, on Bank's format or a letter of authority to an
Agent/Attorney to operate the Account and to make other acts
and things will be binding on the Accountholder and the
Accountholder hereby requests the Bank to rely on such Power
of Attorney which will remain in force and effect until such time
as the Bank receives from the Accountholder a written revocation
of the Power of Attorney. The Accountholder shall indemnify and
hold the Bank harmless from any and all claims and liabilities paid
or incurred by the Bank in connection with reliance upon, and the
operation of the Account by the Agent of any such Power of
Attorney.
a. The signatory/ies to the account/s, is/are authorised: (a) to
operate the account (deposit and withdrawal); (b) to withdraw
and deal with any securities or property or documents of title in
the name/s of the account holder/s, which may be deposited with
the Bank for safe custody or in safe deposit from time to time,
whether by way of security or otherwise; (c) to arrange with the
Bank for extension of Islamic facilities ; and (d) to sign on behalf
of the account holder/s, any form of deposit and withdrawal,
memorandum of deposit, letter of trust, mortgage, hypothecation
and pledge to secure any Islamic facilities and any obligation,
undertakings, indemnities and counter indemnities and any other
documents relating thereto.
b. If more than one person/entity signs, or agrees to be bound by
these terms and conditions, the obligations of such persons
hereunder will be joint and several and as the context may
require, words herein denoting the singular only will be deemed
to include the plural. Any notice hereunder to any of such persons
will be deemed effective notification to all such persons.
c.

13

Should the accountholder authorize the attorney otherwise, the

bank will be informed in writing and approve the same.

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AOF
4. Debit for Charges:
The Bank shall have the right, without reference to the
Accountholder to debit the Account with all expenses, fees,
commissions, taxes and stamp charges paid or incurred by the
Bank or its Correspondents on behalf of the Accountholder.

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5.

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Set-off:
All the Accounts of the Accountholder, regardless of its currency,
shall only constitute one single Account. The Bank shall without
notice combine or consolidate all the Accounts with the liabilities
of the Accountholder, and set-off or transfer any sum/s standing
to the credit of any such Accounts or any other sum/s owing
from the Bank in or towards satisfaction of any liabilities to the
Bank on any other Account or in any other respect whether such
liabilities are actual or contingent

6. Foreign Currency Accounts:

Deposit into Accounts denominated in currencies other than
Saudi Riyals shall be withdrawn in Saudi Riyals at the Bank's
buying rate for the respective currencies applicable at the time
of withdrawal. Withdrawals may be made in the currency of the
Account, subject to the deduction of the Bank's usual charges
for such transactions.
7. In Case of Insolvency:
The Bank, upon information of insolvency by court order , will
stop the operation of the Account, and all monies, security and
property now or thereafter standing to the credit of the Account
with the Bank, or held by the Bank on behalf of the
Accountholder, will only be released upon production of the
necessary documentation authorising such a release.
The Bank may exercise the right of set-off referred to in Section
(5) above and apply all or part of the credit balance of the
Account to any indebtedness, matured or un-matured, owed by
any Accountholder.
8. Documents In Accountholder's Custody:
Cheque books, Passbooks, or any other document(s) issued to
the Accountholder will be his sole responsibility. The Bank will
not be responsible for their use by third parties.
9. Minimum Balance Requirements:
The Accountholders must maintain minimum balances in their
Accounts as set by the Bank from time to time. The Bank
reserves the right to make charges or close the Accounts if
balances fall below the required minimum.
10. Closing The Account:
Either the Bank or the Accountholder may close the Account at
any time without giving any reason.
11. Amendment of Agreement Terms:
The Bank reserves the right to add to, delete and/or to vary any
of the Terms and Conditions upon notice to the Accountholder/s.
Use of the Account after the date upon which any change to
these Terms and Conditions is made will constitute acceptance,
without reservation, by the Account holder/s of such change.
The Bank will notify the Account holder(s) by Registered mail of
any changes to the above specified Terms and Conditions. If a
reply is not received within 30 days describing any objections to
the changes, they will then be considered fully effective.

14

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AOF
12. Change of Business Structure:
All information relating to Partnership Agreements,
Memorandum and Articles of Association, rules of
Club/Societies/Associations and authorised signatories which
have been communicated to the Bank shall remain in force until a
copy of any amendments thereof certified by the account
holder/s company secretary supported by a Board Resolution
(wherever required) to be delivered to the Bank.
13. Miscellaneous:
a. The Bank is authorised to debit the Account with all amounts and
any other related charges and commissions claimed by the Bank
in respect of all services rendered included but not limited to
guarantees issued, Bills, cheques, order of payment or other
negotiable instruments sent for collection and not subsequently
honored. The Bank will not be liable for any loss due to the fault
of any local or foreign or any correspondent bank.
b. All payment orders, exchange operations and sales or purchases
of stocks, or shares in Saudi Arabia or elsewhere, undertaken by
the Bank on behalf of the Accountholder/s, shall be at risk of the
Accountholder/s at his/their expense.
c. The Bank reserves the right to disclose, in strict confidence, to
other institutions, such information concerning the account as
may be necessary, or appropriate, in connection with its
participation in any electronic fund transfer network.

B. Current Accounts
1. Statement of Account:
The records and the Accounts maintained by the Bank are
considered to be correct and final and conclusive evidence
binding on the Accountholder and objection rights shall be
waived after one month from dispatch of Statement of Account
to the Accountholder at his latest address recorded with the
Bank.
2. Overdrafts:
a. Cheques causing the Account to be overdrawn will be returned
unpaid and the Account will be debited with a charge as per
Bank's prevailing Tariff of Charges for each cheque returned for
lack of funds.
b. If a cheque or any other payment order creating an overdraft has
been inadvertently transacted by the Bank, the Accountholder
shall promptly, upon demand, pay to the Bank the amount of the
overdraft [plus the accrued charges] thus created
3. Right to Payment of Profit:
The money in the account is held on demand however the Bank
may utilise such monies with a guarantee of payment upon
request. The accountholder has no right to claim profits.

15

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AOF
C. SABB Privacy Statement
To preserve the confidentiality of all information you provide to
us, we have adopted the following privacy principles:
1. We only collect information that we believe to be relevant and
required to understand your financial needs and to conduct our
business.
2. We use your information to provide you better customer
services and products.
3. We may pass your information to SABB associate companies
providing products or services which may be of interest to you.
4. We will not disclose your information to any external
organization unless we have your consent or are required by law.
5. We may be required from time to time to disclose your
information to Governmental/Judicial bodies / Overseas
Correspondent Banks (for processing remittances only) or
agencies or our regulators.
6. We aim to keep your information up-to-date.
7. We maintain strict security systems designed to prevent
unauthorised access to your information by anyone, including our
staff.
8. SABB and its associate companies, all our staff and all third
parties with access to your information are specifically required
to observe our confidentiality obligations, as well as these
principles.
9. By maintaining our commitment to these principles, we at SABB
will ensure that we respect the inherent trust that you place in
us.

D. Fees, Supplementary Terms,

Changes to and Termination of the
Contract:
1.

2.
3.

4.

5.

You agree to pay our scale of the charges (if any) for providing
the Banking Service as we advise you from time to time. We
may vary our charges and the frequency and dates of payment
on giving you no less than 30 days notice.
You authorise us to debit any of your accounts with any charges
for providing the Banking Service.
When we introduce new Services we may provide them on
supplementary terms which will be notified to you from time to
time in accordance with these Terms.
We may modify the Terms on not less than 30 days notice to
you or such shorter period (other than in the case of any
variations to our charges) as is necessary for the effective
operation of the Banking Services.
The contract may be terminated by either party giving not less
than 30 days notice to the other.

E. Agency, Notices and Law:

1.

2.

16

We may at time appoint one or more agents to provide all or any

Banking Service and references to "we", "us" or "our" will include
references to such agents.
All notices and advises to be given by us to you under the Terms
(including any amendments to the Terms) may be given in
writing or electronically over the Internet Banking Service. All
such notices and advises will be deemed to have been received
by you:

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AOF
- In the case of posting, by registered mail to the last address
provided by you.
- In the case of notification via the Internet Banking Service.
The contract is governed by and construed according to the
regulations of the Kingdom of Saudi Arabia. Any dispute not
amicably settled shall be referred to the SAMA Committee of
banking disputes for settlement in compliance with Shariah
principles.
The Bank is required to act in accordance with the laws and
regulations operating in Saudi Arabia which relate to the
prevention of money laundering, terrorist financing and the
provision of financial and other services to any persons or
entities which may be subject to sanctions.
The Bank reserves the right to take any action as deemed
appropriate in respect of the relationship or associated financial
transactions conducted, in the light of UN/EU/OFAC or local
sanctions imposed.

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.k

This document contains (17) pages and by executing this

document and by signing on the last page, I/We irrevocably
and unconditionally waive the requirement to place my/our
initial on every page of this document.

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3.

4.

5.

Name: ___________________________________________________________________ :SG

Name: ___________________________________________________________________ :SG

Position: ______________________________________________________________ :XdG

Position: _______________________________________________________________ :XdG

Signature: ______________________________________________________________ :bdG

Signature: ______________________________________________________________ :bdG

Bank use only

(Lh GPEG) cdG N

Company stamp (if applicable)

17

Signature SV