Tuesday 17 Nov ’09
Today I went to purchase RAV4 in Al-Khobar, Saudi Arabia (Eastern Providence); I then went and got a certified check. To my surprise, Abdul Latif Jameel Co. Ltd does not recognize the check. They not only want the stub (bottom part) of the certified check; they also wanted the bank request (which I fell to request the money order). Not only that, they want to keep the originals. Both parts are from the bank for the client only to keep for the record.
The salesman point that this is not his problem and it is the accounting department issue. He asked me to clear it with the accountant who said this is company policy. In another word, do not acknowledge certified Saudi Banks check in the name of “Abdul Latif Jameel Co. Ltd”. Their reasoning is that it might not be me who got the check. (Maybe I picked it from the side walk and gave it to them.) Although they have seen the check stub as well the bank's check request form.
I refused to do so and cancelled purchasing the car and they were happy to do so. Their alternative idea to bring cash equivalent to over US$25, 000 (in CASH)
I have spoken to the Head Quarter in Jeddah, the General Manager Mr. Mohammad Mukhtar and he is aware of the situation.
I have returned the check to SAMBA (former Saudi American Bank) and also raised this issue with the bank asking them to investigate why their certified check is not acceptable.
I believe this is disgraced to the banking system to the monetary administration as well the trading scheme.
Imagine of you travel and go to the hotel and upon checking out to pay your bill with credit card, the hotel says, yes it is processed, but we need to keep your credit card and your passport until we collect the money. Maybe it is not your card, maybe found it on the side walk too. So, sir you have to wait in the hotel lobby for the next few days/ week and we will let you know.