The Loan Declaration Form is a crucial document in Saudi Arabia's Islamic banking system, designed to facilitate compliant lending practices while protecting both lenders and borrowers. This document is required when individuals or businesses seek financing from Saudi financial institutions, serving as a formal declaration of the borrower's financial status, intentions, and ability to repay. It must adhere to strict Sharia principles that prohibit conventional interest-based lending, instead incorporating Islamic financing structures. The form is typically used at the pre-approval stage of a financing application and includes comprehensive declarations about the borrower's existing financial obligations, source of repayment funds, and the intended use of the financing. It plays a vital role in the credit assessment process and forms part of the official loan documentation required by Saudi Arabian Monetary Authority (SAMA) regulations.
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1. Declaration Header: Date, reference number, and type of loan declaration
2. Declarant Information: Full details of the person/entity making the declaration including name, ID/CR number, contact information, and address
3. Loan Details: Specific information about the loan including amount, purpose, and terms of financing in compliance with Sharia principles
4. Source of Funds Declaration: Declaration regarding the source of funds for loan repayment and confirmation of legitimate income sources
5. Financial Obligations: Statement of existing financial obligations and confirmation of ability to repay
6. Sharia Compliance Declaration: Declaration that the loan purpose and structure comply with Islamic principles
7. Truth and Accuracy Statement: Declaration that all information provided is true, accurate, and complete
8. Acknowledgment of Terms: Confirmation of understanding all terms and conditions of the loan
9. Signature Block: Space for signature, date, and official stamps if required
1. Guarantor Information: Required when the loan includes a guarantor - includes guarantor's personal details and declarations
2. Business Details: Required for business loans - includes company information, commercial registration details, and business financial declarations
3. Collateral Declaration: Required when the loan is secured - details of assets provided as security
4. Foreign Income Declaration: Required when repayment includes foreign source income - details of international income sources
5. Power of Attorney: Required when declaration is made by an authorized representative - includes representative's details and authority confirmation
1. Schedule A - Supporting Documents: List of all required supporting documents attached to the declaration
2. Schedule B - Income Verification: Details of income sources and verification documents
3. Schedule C - Asset Statement: List of declared assets and their current market values when relevant
4. Appendix 1 - Terms and Conditions: Standard terms and conditions applicable to the loan
5. Appendix 2 - Fee Schedule: Breakdown of all applicable fees and charges in compliance with Sharia principles
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Islamic Finance
Real Estate
Commercial and Corporate
Retail Banking
Small and Medium Enterprises
Construction and Development
Manufacturing
Trading and Distribution
Healthcare
Education
Relevant Teams
Legal
Compliance
Credit Risk
Islamic Banking
Retail Banking
Corporate Banking
Documentation
Risk Management
Operations
Customer Service
Underwriting
Financial Control
Relevant Roles
Credit Officer
Loan Officer
Compliance Manager
Sharia Compliance Officer
Risk Assessment Manager
Branch Manager
Relationship Manager
Legal Counsel
Credit Analyst
Financial Controller
Corporate Banking Officer
Retail Banking Manager
Documentation Specialist
Underwriting Manager
Chief Risk Officer
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