Regulatory Alerts2020-03-11
Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers
The Saudi Central Bank issued instructions effective March 15, 2020, allowing non-independent bank branches, self-service centers, and remittance centers in shopping malls to extend their operating hours to match mall schedules. The regulations restrict cash transactions after 4:30 PM on weekdays and on weekends, limiting services to customer account management, marketing, and sales. Additionally, interactive teller machines are capped at 5,000 SAR for withdrawals or check cashing during extended hours, while remittance centers must rely on kiosks for cash transfers after 5:30 PM.
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