Banking

Penalties for cheque bounce in Saudi Arabia

Cheque Bounce is a Criminal Offence in Saudi Arabia

Saudi Arabia considers cheque bounce as a crime and the kingdom imposes strict penalties for this offense.

According to Article (118) of the Commercial Papers Law, those who issue cheques without sufficient funds face imprisonment and fines and the same is applicable to those who write a cheque with a false or incorrect signature.

The penalty for first-time offenders is a jail term of up to 3 years and a fine up to SR 50,000 ($13,331).

In the case of repeat the crime within three years, he will get a prison sentence of up to five years and a fine of up to SR 100,000 ($26,662).

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