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The Money Agreement Letter is a crucial document used in Saudi Arabia when establishing formal monetary arrangements between parties, whether for personal, commercial, or institutional purposes. It serves as a legally binding document that outlines the terms of money lending or borrowing while ensuring compliance with both Saudi civil law and Islamic Sharia principles. This document is particularly important in the Saudi Arabian context as it must carefully balance modern financial practices with Islamic financial principles, specifically avoiding any form of interest (riba). The letter typically includes detailed information about the parties involved, the amount of money, purpose of funds, repayment schedule, and method of transfer. It's commonly used in business transactions, personal loans, and institutional arrangements, providing a clear record of the agreement that can be enforced under Saudi law.

1. Date and Parties: Full names, addresses, and contact details of both the lender and borrower

2. Subject Line: Clear indication that this is a Money Agreement Letter and the amount involved

3. Opening Statement: Formal greeting and reference to any prior discussions or arrangements

4. Amount and Purpose: Clear statement of the money amount and the purpose for which it is being provided

5. Terms of Repayment: Specific details about how and when the money will be repaid, ensuring Sharia compliance

6. Method of Transfer: Details of how the money will be transferred between parties

7. Sharia Compliance Statement: Explicit statement confirming the arrangement complies with Islamic finance principles

8. Signatures and Witness Details: Space for signatures of both parties and witness information