BSF is conventional, so interest income lives in the statement. Trade finance fees too. Both need careful treatment before they reach the ZATCA portal.
Convert your BSF statementBanque Saudi Fransi is a conventional bank with strong trade-finance and corporate-treasury operations. That shapes the statement: conventional interest credits ("فائدة دائنة") appear on deposit accounts, letter-of-credit (LC) payments hit AP-clearing categories, and trade fees recur. None of this is a problem — but each line needs the right tax treatment before it reaches the ZATCA Zakat or income-tax return.
For Zakat purposes, conventional interest is excluded from the Zakat base under GAZT guidance for both individuals and Sharia-compliant corporate filers. Trade-finance fees map to cost of goods, not finance expense, for accurate gross-margin reporting.
The BSF PDF runs: Posting Date, Value Date (DD/MM/YYYY), bilingual Description, Reference, Debit, Credit, Running Balance. Foreign-currency sub-accounts appear in a separate section. Key labels: "حوالة دولية" for outbound SWIFT wires, "LC Payment" for letter-of-credit settlements, "فائدة دائنة" for interest credits, and "POS-MADA-" for retail Mada purchases with embedded 15% VAT.
For VAT reconciliation, POS-MADA debits are VAT-inclusive at 15%. LC fees and trade charges typically fall outside the standard VAT supply chain and need separate classification. The Reference column on each row ties back to a specific trade document — invoice, bill of lading, or LC reference — which auditors will request.
BSF's corporate-grade statement carries dense data. The CSV makes it usable for each ZATCA filing.
BSF statements are bilingual (Arabic/English) PDFs with a corporate-oriented format. Columns are: Posting Date, Value Date (DD/MM/YYYY), Transaction Description in English and Arabic, Reference Number, Debit, Credit, Running Balance. Foreign-currency sub-accounts may be listed in a separate section with USD or EUR balances.
| Label | Meaning |
|---|---|
| حوالة دولية | Outbound international SWIFT wire transfer |
| POS-MADA- | Mada debit purchase |
| LC Payment | Letter of credit payment |
| حوالة سريعة | Sarie instant domestic transfer |
| فائدة دائنة | Conventional interest credit on deposit |
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 from BSF Online
Download a full-period PDF for your SAR account. If you maintain USD or EUR sub-accounts, export those too — each is a separate file.
Upload to Kashfbank
Drop the PDFs in. Kashfbank segments by currency header so SAR rows don't merge with USD or EUR rows.
Classify each row category
In the CSV, tag conventional interest as excluded from Zakat, LC payments as AP clearing, and POS-MADA debits as VAT-inclusive purchases. Sum each group separately.
File against ZATCA
The CSV totals feed your Zakat and income-tax return directly. Keep the BSF PDFs as the audit trail for any ZATCA queries.
Common challenges
BSF is conventional. How should I treat the interest credits for Zakat?
Conventional interest entries labelled "فائدة دائنة" are excluded from the Zakat base under GAZT guidance. Kashfbank extracts them as standard credit rows so you can identify them by description and tag the exclusion explicitly in your filing workbook.
My BSF statement has a USD sub-account. How does Kashfbank handle it?
The USD section is extracted separately and labelled with the USD currency code. The closing balance is preserved in USD. For Zakat purposes, convert the USD closing balance to SAR at the year-end exchange rate before adding it to the asset side of the Zakat base.
Are BSF LC Payment debits a finance expense or cost of goods?
Letter-of-credit settlements are typically AP clearing, not finance expense. The underlying goods are the cost; the LC is the payment mechanism. Kashfbank tags them via the Reference column so your accountant can map them to the correct ledger.
Does BSF show the 15% VAT separately on Mada POS lines?
No. POS-MADA debit values are VAT-inclusive at 15%, with the breakdown on the merchant invoice. Kashfbank flags POS-MADA rows so you can match them against supplier invoices when claiming input VAT credit.
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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