Riyad Bank is conventional. That means interest credits exist in your statement, and they need careful treatment before they reach the ZATCA portal.
Convert your Riyad Bank statementSaudi nationals pay Zakat at 2.5% on net zakatable wealth. Companies file a Zakat or income-tax return depending on ownership structure. VAT-registered businesses remit 15% on taxable supplies. Each filing leans on the same source: bank movements. Riyad Bank statements anchor the closing balance, the income line, and the supplier-side VAT trail.
Because Riyad Bank is a conventional institution (not Sharia-licensed), statements can include conventional interest credits labelled "فائدة دائنة" on certain savings products. For individual Zakat, conventional interest is excluded from the base. For corporate Zakat returns, GAZT guidelines require its exclusion as non-halal income.
The Riyad Bank PDF runs: Date (DD/MM/YYYY), bilingual Description, Cheque/Reference, Debit, Credit, Running Balance. Common labels are "راتب" for WPS salary, "حوالة سريعة" for Sarie domestic transfers, "RTGS" for high-value real-time transfers, and "قسط تمويل" for a financing instalment. POS-MADA debits carry an embedded 15% VAT component on retail purchases.
For VAT reconciliation, the POS-MADA debit value is VAT-inclusive at 15%. Cross-check it against supplier invoices to claim input VAT credit. Outbound RTGS transfers to suppliers above SAR 500,000 typically reflect trade payments and feed into the VAT supplier trail.
Each ZATCA filing needs a different slice of the same statement. Filter the CSV once, export the cuts, and keep the original PDF for the audit trail.
Riyad Bank statements are professionally formatted bilingual PDFs. The layout is: Transaction Date (DD/MM/YYYY), Description in both Arabic and English, Cheque/Reference number, Debit, Credit, and a right-aligned Running Balance column. Statements may include a summary page with opening and closing balances, and average monthly balance calculations.
| Label | Meaning |
|---|---|
| POS-MADA- | Mada debit card purchase at point of sale |
| حوالة سريعة | Sarie real-time domestic transfer |
| راتب | Salary deposit via WPS |
| قسط تمويل | Financing installment debit (conventional or Islamic window) |
| RTGS | High-value real-time gross settlement transfer |
Saudi Zakat at 2.5% applies to net Zakatable assets (capital, retained earnings, receivables minus payables); statements prove the ending balance and cash movements that enter the Zakat base calculation.
Export the full reporting period
From Riyad Mobile, download a PDF covering your full Zakat year or VAT quarter. Riyad Bank statements run on a Gregorian calendar by default.
Upload to Kashfbank
Drop the PDF into Kashfbank. The summary page is skipped; transaction rows extract in seconds.
Tag conventional interest separately
Filter the CSV for "فائدة دائنة" and tag those rows as excluded from the Zakat base. For individuals, exclude entirely. For companies, follow GAZT corporate guidance.
Reconcile and file
Sum POS-MADA debits for input VAT credit. Sum credit-side totals (less interest) for taxable income. Upload the CSV to your filing tool or hand it to your accountant.
Common challenges
Riyad Bank is conventional. How does Kashfbank treat interest credits for Zakat?
Conventional interest entries labelled "فائدة دائنة" are extracted as standard credit rows with the description preserved. For Zakat purposes, individuals exclude these from the base; corporate Zakat returns follow GAZT guidance. The CSV gives you the row dates and amounts to make the exclusion explicit.
Does Riyad Bank show VAT separately on Mada POS lines?
No. POS-MADA values are VAT-inclusive at 15%, with the breakdown living on the merchant invoice. Kashfbank flags POS-MADA rows so you can match them against supplier invoices when claiming input VAT credit.
My Riyad Bank statement spans a Hijri Zakat year. Does Kashfbank convert dates?
Yes. Dates are normalised to Gregorian (ISO 8601) in the export. If your accountant works in Hijri, retain the original Riyad Bank PDF as the source reference alongside the CSV.
Can the summary page average balance be used directly in my Zakat base?
Riyad Bank statements show opening, closing, and average monthly balance figures on the front summary page. These are useful inputs, but the Zakat base requires year-end positions, not period averages. Use the closing-balance row from the CSV for the asset-side calculation.
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Regulator: Saudi Central Bank (SAMA)
Fiscal year: Hijri fiscal year (government); Gregorian Jan–Dec (most private sector)
Full country guide →Statement language: Arabic / English