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An Authority Letter For Bank Account Opening is a critical document used in Saudi Arabia when an individual or organization needs to delegate the power to open and potentially manage bank accounts to another party. This document is particularly important in the Saudi business environment where delegation of banking authority must be formally documented and authenticated. It is commonly used when company executives are unavailable, for parent companies managing subsidiaries, or when individuals need representatives to handle their banking matters. The letter must comply with Saudi Central Bank (SAMA) regulations, Saudi Companies Law (for corporate entities), and local banking practices. It typically includes detailed information about both the grantor and the authorized person, specific powers being granted, duration of authority, and any limitations on the authority. The document requires proper authentication and must be accompanied by supporting identification documents as per Saudi legal requirements.

1. Letter Header: Date, reference number, and formal letterhead if from a company

2. Addressee Details: Name and address of the bank where the account is to be opened

3. Subject Line: Clear indication that this is an Authority Letter for Bank Account Opening

4. Grantor Information: Full legal name, ID/Iqama number, contact details, and address of the person/entity granting the authority

5. Authorized Person Details: Full legal name, ID/Iqama number, contact details, and address of the person being authorized

6. Authority Declaration: Clear statement of the authority being granted for bank account opening

7. Scope of Authority: Specific powers being granted regarding the bank account opening and operation

8. Duration of Authority: Validity period of the authorization

9. Signature Block: Space for grantor's signature, witness signatures, and official authentication