7 Hrs
Source:
الاقتصادية
Source: الاقتصادية
7 Hrsالاقتصادية
Source: الاقتصادية
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Saudi Arabia’s new Enforcement Law has entered into force. It sets the start of compulsory enforcement at five working days after the debtor is notified and requires the debtor to disclose their assets within the same period, including unregistered assets and assets located outside the Kingdom. It also allows current and future funds to be attached. The law imposes penalties of up to three years in prison and a fine of SAR 1 million for anyone who deliberately obstructs enforcement or conceals assets. It also restricts travel bans to specified conditions and limits them to no more than three years at a time, while exempting debts with outstanding balances of SAR 50,000 or less. The changes aim to speed up the recovery of rights and clarify procedures, while safeguarding compliant debtors and making commercial and investment transactions more predictable.
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