Saudi Arabia’s Commercial Transactions Law has been amended
- 12/04/201711/12/2019
- by Benjamin Filaferro
Saudi Arabia’s Commercial Transactions Law has been amended. The aim is to tackle the issue of bounced cheques. Article 4(2) of the law has been amended to request the relevant authorities increase the penalties for individuals who commit offences regarding bounced cheques. These include jail sentences and naming and shaming those who issue cheques which then bounce.
Benjamin Filaferro