Submitting Financial Guarantee

Requirements for Submitting Financial Guarantee

The financial guarantee must be submitted according to the following types:

A bank guarantee issued by any bank operating in the Kingdom.
A financial guarantee account through one of the banks operating in the Kingdom.
An executive bond from the company or its owning company, if the company is with high financial capacity, and listed on the main Saudi Stock Exchange, supported by an annual report from a certified public accountant.
Saudi government bonds that are eligible for pledge.
Insurance and guarantee products and instruments.

Procedures for Submitting the Financial Guarantee

The application for the financial guarantee is done electronically through Saudi banks via the "Bawadl" platform. These banks include:

Riyad Bank
SABB (Saudi British Bank)
Al Rajhi Bank
Alinma Bank
The Saudi National Bank (SNB)
Bank Albilad
Gulf International Bank
Arab Bank
Banque Saudi Fransi
Bank AlJazira
The Saudi Investment Bank

Accordingly, the issuance or amendment of the financial guarantee is carried out electronically through the bank, and there is no need to submit the original guarantee to the Ministry.

If a manual guarantee is issued by any of the above banks, the original financial guarantee must be returned to the issuing bank in order for it to be reissued electronically.