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The Authorized Signatory Bank Account Letter is a fundamental document required by Saudi Arabian banks to establish and verify the authority of individuals who can operate corporate bank accounts. This document is essential when setting up new banking relationships, updating existing signatory arrangements, or making changes to authorized personnel. It must comply with the Saudi Arabian Monetary Authority (SAMA) regulations and the Banking Control Law, requiring careful preparation to ensure all regulatory requirements are met. The letter typically includes detailed information about the signatories, their powers, any limitations on their authority, and must be supported by appropriate corporate authorizations such as board resolutions. It serves as a critical control document that protects both the company's interests and the bank's compliance obligations.

1. Bank Details: Full name and address of the bank branch where the account is held

2. Account Information: Account number, type of account, and account name as registered with the bank

3. Authorization Statement: Clear statement of the purpose of the letter and the authority being granted

4. Signatory Details: Full names, positions, and identification details of all authorized signatories

5. Signing Powers: Specific powers granted to each signatory, including any transaction limits and whether single or joint signatures are required

6. Duration of Authority: Validity period of the authorization, if any

7. Company Authorization: Statement confirming the company's authority to grant these signing powers, with reference to relevant board resolutions