Saudi Bank Outlines Seizure Exemptions

RIYADH — The Saudi Central Bank (SAMA) has issued a clarification on the specific amounts exempt from seizure in bank accounts. According to the statement, the exemption rate for salary seizures is capped at one-third of the net monthly income, while retirement pension seizures cannot exceed one-quarter of the net monthly pension.

Furthermore, deposits related to compensation and government support programs, including social security and the Citizen's Account Program, are protected from seizure. SAMA emphasized that individuals can claim the exempt amount even if deposited after a seizure has begun. However, if the exempt sum is present before the seizure, it will be included in the seizure process.

Addressing concerns about seizures related to traffic violations, SAMA clarified that these seizures will only target the specific amount owed for the violation, with any excess remaining untouched.

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