Fines for Cheque Bounces in Kingdom of Saudi Arabia (KSA)
As you know that giving a cheque without having Bank Balance (Cheque Boucne) in your Account is a Crime in Kingdom of Saudi Arabia (KSA) and you would have to pay fine for it.
Yes, you are hearing it right. If you are living in Saudi Arabia then Cheque bounces are considered as crime and authorities may impose heavy fines for doing this.
So, whenever you wanna give a Cheque to any one, please see the Validity of the Cheque twice.
Fines & Penalties for Cheque Bounces:
- If a person is found defaulter for Bounced Cheque then he might be imprisoned upto 3 Years and may have to Pay fines upto 50,000 SAR for the first time
- If a person commits the same crime second time within 3 years, then he might be imprisoned upto 5 Years and may have to Pay fines upto 1,00,000 SAR
Article 118 of Commercial Papers Law says that those who issue Cheques without having funds in his account may face imprisonment along with Fines.
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