Money Deposit Form Template for Saudi Arabia

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Key Requirements PROMPT example:

Money Deposit Form

"I need a Money Deposit Form for a Saudi Arabian corporate account with three authorized signatories, including provisions for deposits exceeding SAR 500,000 and specific requirements for source of funds documentation."

Document background

The Money Deposit Form is a crucial document in Saudi Arabian banking operations, designed to facilitate and formalize the process of accepting monetary deposits while ensuring compliance with both SAMA regulations and Islamic banking principles. This form is utilized whenever a customer (individual or corporate) wishes to make a significant deposit or open a new deposit account with a Saudi Arabian bank. It contains comprehensive sections for customer identification, deposit details, source of funds verification, and applicable terms and conditions. The document's structure reflects the specific requirements of Saudi banking law, including anti-money laundering provisions and Shariah compliance requirements. It serves multiple purposes: as a transaction record, a regulatory compliance document, and a contractual agreement between the bank and depositor. The form is designed to be adaptable for various types of deposits while maintaining consistency with Saudi Arabian banking regulations and international banking standards.

Suggested Sections

1. Account Holder Information: Details of the depositor including full name, ID/Iqama number, contact information, and address as per SAMA KYC requirements

2. Deposit Details: Specific information about the deposit including amount, currency, type of deposit (current/savings/investment), and duration if applicable

3. Declaration of Source of Funds: Mandatory declaration of the origin of deposited funds to comply with anti-money laundering regulations

4. Terms and Conditions: Standard terms governing the deposit relationship, including Shariah compliance statements

5. Bank Information: Details of the receiving bank branch, account numbers, and banking codes

6. Signatures and Attestation: Space for customer signature, bank officer signature, and official bank stamps

Optional Sections

1. Joint Account Details: Additional section for joint account holders, used when deposit account has multiple parties

2. Corporate Entity Information: For business deposits, including commercial registration details and authorized signatories

3. Special Instructions: For any specific handling requirements or conditional instructions related to the deposit

4. Profit Distribution Terms: For Islamic investment accounts, detailing the profit-sharing arrangement and calculation method

5. Foreign Currency Declaration: Required for foreign currency deposits, including exchange rate acknowledgment

Suggested Schedules

1. Schedule A - Fee Schedule: List of applicable banking charges and fees related to the deposit account

2. Schedule B - Required Documentation Checklist: List of supporting documents required for account opening and deposit verification

3. Appendix 1 - Specimen Signature Card: Card for recording authorized signatures for the account

4. Appendix 2 - SAMA Guidelines Summary: Summary of relevant SAMA regulations regarding deposits and account maintenance

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking

Financial Services

Islamic Finance

Corporate Services

Retail Banking

Investment Services

Commercial Banking

Financial Technology

Professional Services

Legal Services

Relevant Teams

Operations

Compliance

Legal

Customer Service

Risk Management

Islamic Banking

Front Office

Back Office

Regulatory Affairs

Product Development

Account Services

Treasury

Relevant Roles

Bank Branch Manager

Compliance Officer

Account Manager

Banking Operations Manager

Customer Service Representative

Financial Services Officer

Legal Counsel

Risk Management Officer

Relationship Manager

Treasury Officer

Islamic Banking Specialist

KYC Officer

Account Opening Officer

Banking Products Manager

Regulatory Compliance Manager

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Authors

Alex Denne

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