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The Nafith Platform & digital automated Promissory Notes in KSA


You will need to have a promissory note to spell out the conditions of the loan if you are intending to loan or borrow money. It is crucial to understand what promissory notes cover whether you manage your own company and lend money to other people or take out a loan to pay for a new item. However, the KSA inducted a new way of providing promissory notes through the Nafith Saudi Arabia platform.

In this article, we will be talking about the Nafith Saudi Arabia system and the current digital promissory notes. Promissory notes are necessary to specify the loan terms if you are going to lend money. No matter how much you borrowed, you have probably already signed one if you have ever taken out a loan from a bank or another institution.

  1. What is a promissory note?
  2. What is the Nafith Saudi Arabia platform?
  3. Connect Legal, your main site for legal advice

1. What is a promissory note?

Nafith Saudi Arabia

A promissory note is a legally binding commitment to pay someone. The individual who makes the promise is the payer; on the other hand, the person who will collect the payment is the payee.

The agreement to pay is an unconditional promise; which implies that your responsibility to pay is not subject to any conditions that require that a specific event or action occur first. All information regarding a loan and the conditions of repayment should be included in a promissory note. It may also contain the following information in addition to the borrower’s and lender’s names:

-The sum borrowed in its entirety.

-Amount of payments.

-The amount due each month.

-The rate of interest.

-Conditions for collateral.

-Penalties for default or nonpayment.

-Conditions that must be met for the loan to be forgiven or delayed.

1.1 Promissory notes in the KSA

In all types of deals in the Kingdom of Saudi Arabia (the “KSA”), the modest but effective promissory note takes center stage. People commonly use promissory notes in business transactions in the Kingdom of Saudi Arabia because of their simplicity in production and rapid and effective enforcement.

In general, obligations resulting from associated underlying transactions are unrelated to promissory notes. This means that the offered promissory notes can be implemented as independent payment mechanisms rather than having to enforce complicated commercial or financial documents. Promissory notes can also be certified by a financial institution and are negotiable instruments that can be transferred by endorsement (apart from situations where endorsing is prohibited).

Promissory notes are common, but it is crucial that they be written and signed in compliance with the Commercial Papers Law established by Royal Decree number 37 on 11/10/1383H (or 24/02/1964G), which is the date of the document. However, promissory notes are not an obligation, if they do not meet the criteria laid out in the Commercial Law.

It is impossible to emphasize the significance of promissory notes in KSA, and in keeping with the technological revolution in business operations, a new system for issuing electronic promissory notes has been established in KSA.

The Ministry of Justice in the Kingdom of Saudi Arabia has created and built a platform that offers and controls electronic promissory notes in light of the significance of these documents in transactions. By enabling and activating E-Government, this platform aims to safeguard business dealings between parties; including institutions and individuals, in accordance with the KSA’s Vision 2030 goal for digital transformation.

2. What is the Nafith Saudi Arabia platform?

Nafith Saudi Arabia

The name “Nafith Platform” for the platform comes from the Arabic word “نافذ” which means “execution.” One of the most crucial aspects of the Nafith Platform is the speed of enforcement. Promissory notes can be created and executed securely through the Nafith platform. It provides the capability to request promissory notes that are in compliance with KSA laws and regulations. Consequently, removing any room for error and the threat of breaking the Commercial Papers Law.

The steps for creating a promissory note on the Nafith Platform are simple. The creditor requests the issuing of a promissory note after signing up on the Nafith Platform, and the request is subsequently forwarded to the debtor. On the Nafith Platform, the debtor inputs his or her information, certifies the promissory note, and, as the last step, approves it. Then, you should keep the promissory note for future use.

The system of Unified National Access provides access to the promissory notes. There is a direct connection with the Ministry of Justice’s execution system in the event that the person does not receive the payment from the promissory note on time; which makes the execution court process easier.

3. Connect Legal, your main site for legal advice

In the Middle East, handling legal issues is not a simple task. Therefore, you can turn to Connect Legal if you need assistance of any type. Simply register with us and begin a chat with one of our knowledgeable representatives to discuss your problems.

With our company, you can find support in one of these practice areas:

Projects and construction.


General civil law.

Banking and finance.

Islamic finance.

Accident law.


Criminal and more.

Connect Legal

Do you want support to deal with an unpaid promissory note? Contact us now! Send us an email at or give us a quick call at +971 43 316 688. Our professional lawyers will give you an expert solution in no time!

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Hena Babu

Hena Babu
I am Hena Babu doing LLB commercial law at Middlesex University Dubai. I am originally from in India but have been in the UAE for all my life. I am an avid reader and loves right and researching on topics that intrigues me. I have also inculcated a practice of writing blogs on various Legal related updates.

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