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The Personal Loan Promissory Note is a fundamental document in Saudi Arabian personal banking, used to formalize and secure personal lending arrangements between financial institutions and individual borrowers. This document is specifically designed to comply with both Saudi Arabian banking regulations and Islamic Shariah principles, making it suitable for use by Saudi banks and licensed financial institutions. The promissory note serves as a legally enforceable instrument that documents the borrower's unconditional promise to repay the loan amount according to specified terms, while maintaining Shariah compliance. It includes critical information such as party details, payment schedules, and enforcement provisions, and must be executed in accordance with SAMA guidelines and local banking laws.

1. Identification of Parties: Full legal names and details of the lender and borrower, including national ID/Iqama numbers

2. Promise to Pay: Clear, unconditional promise to pay a specific amount, structured in compliance with Shariah principles

3. Payment Terms: Detailed breakdown of the payment amount, number of installments, and due dates

4. Place of Payment: Specific location or method where payment should be made

5. Default Provisions: Consequences of missing payments and acceleration clauses

6. Governing Law: Statement that the note is governed by Saudi Arabian law and Shariah principles

7. Signature Block: Space for borrower's signature, date, and witness attestation