Bank Affidavit Template for Saudi Arabia

What is a Bank Affidavit?

A Bank Affidavit serves as a crucial legal instrument in Saudi Arabia's banking sector, used to formally declare or verify banking-related information under oath. This document type is commonly required for various banking operations, from account verification to complex financial transactions, and must strictly adhere to Saudi Arabian banking regulations and Shariah law. Bank Affidavits are typically needed when formal verification of banking relationships, account status, or financial circumstances is required by authorities, other financial institutions, or for legal proceedings. The document must be executed in accordance with the Banking Control Law, SAMA regulations, and Islamic banking principles, often requiring proper notarization and, in some cases, authentication by relevant authorities. These affidavits may need to be bilingual (Arabic and English) when used for international banking relationships or cross-border transactions.

About the Bank Affidavit

A Bank Affidavit is a sworn legal document that allows you to formally declare or verify banking-related information under Saudi Arabian law. This crucial document serves as official evidence of your banking relationships, account details, or financial circumstances when required by regulatory authorities, other financial institutions, or legal proceedings. In Saudi Arabia's highly regulated banking sector, these affidavits must comply with strict legal requirements and Islamic banking principles.

When do you need this document?

You'll need a Bank Affidavit in several important situations. Financial institutions may require one when opening new accounts, applying for loans, or conducting large transactions that trigger anti-money laundering compliance. Legal proceedings often demand sworn statements about banking relationships or account balances, particularly in inheritance cases, divorce settlements, or commercial disputes. International banking transactions frequently require affidavits to verify the legitimacy of funds and account ownership. Additionally, SAMA may request these documents during regulatory examinations or when investigating compliance with banking laws. Corporate entities often need Bank Affidavits when establishing business relationships with new banks or when providing financial guarantees.

Key legal considerations

Your Bank Affidavit must contain specific elements to be legally valid. The declarant information section requires your complete legal name, Saudi national ID or Iqama number, and your relationship to the bank account. You must clearly state the purpose of the affidavit and provide accurate banking details including the bank's full legal name, branch information, and account numbers. All statements must be truthful, as providing false information in a sworn affidavit constitutes perjury under Saudi law. The document should include numbered paragraphs for each declaration, making it easy to reference specific claims. If you're acting on behalf of a corporation, you must demonstrate your authority to make such declarations through corporate resolutions or power of attorney documents.

Legal requirements in Saudi Arabia

Saudi Arabian Bank Affidavits must comply with the Banking Control Law (Royal Decree No. M/5) and SAMA's consumer protection principles. The document must be notarized by an authorized notary public and may require authentication by relevant authorities depending on its intended use. For international transactions, you'll likely need both Arabic and English versions, with certified translations by licensed translators. The affidavit must adhere to Islamic banking regulations and Shariah compliance requirements, particularly when dealing with Islamic banks. Anti-Money Laundering Law (Royal Decree No. M/20) mandates specific disclosures for certain financial declarations. The Civil Procedures Law governs the procedural requirements for executing affidavits, including proper witnessing and signature requirements. Some affidavits may require approval or acknowledgment from SAMA representatives, especially those involving regulatory compliance matters.