The Saudi Central Bank (SAMA) has provided details on amounts exempt from seizure and enforcement on bank accounts, addressing public concerns regarding the procedures.
SAMA specified that for employee salaries, the seizure amount should not exceed one-third of the net monthly salary, and for retirement pensions, it should not exceed one-quarter of the net monthly pension.
Additionally, certain deposits, such as compensation and government support programs like social security support and the Citizen's Account Program, are exempt from seizure and enforcement.
The Central Bank emphasized that clients can benefit from the exempt amount if deposited after the seizure is initiated. However, if the exempt amount is deposited before the seizure, it will be included in the seizure procedures.
Regarding discussions on seizure due to traffic violations, SAMA clarified, "Seizure and enforcement will apply only to the amount of the traffic violations. Clients can access amounts exceeding the required seizure amount."
