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Jurisdiction over Banking Disputes in Saudi Arabia

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image of Arab Law Quarterly

The establishment of the Committee for the Settlement of Banking Disputes (CSBD) was a milestone in the development of the Saudi Arabian banking system. Its mere existence as a dispute settlement forum for eligible claims has provided the Kingdom’s commercial banks with a significant measure of assurance that their valuable services to the Kingdom’s economy will not be derailed through lengthy litigation by non-specialized entities. In the opinion of the author, however, the role of the CSBD can be significantly enhanced and reinforced by the implementation of two measures: restructuring the CSBD so that it has two levels; and establishing various ‘first instance’ committees of the CSBD in the Kingdom’s major commercial hubs in the interest of speedy settlement of eligible disputes.

Affiliations: 1: Riyadh Saudi Arabia


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