Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers

In the Name of Allah, the Most Gracious, the Most Merciful Saudi Central Bank Headquarters

Banking Policy Department

Reference No: Date: 16/07/1441 Attachments: 3 pages

Circular

Dear Sirs, Peace, mercy, and blessings of Allah be upon you, Subject: Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers.

Based on Article Sixteen of the Banking Control Law, and in continuation of the Institution's Circular No. 35487/M.Sh/586 dated 09/10/1427H regarding the working hours of bank branches for the public.

Attached are the Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers, aiming to allow the extension of working hours for these branches and centers within specific controls consistent with related systems and instructions.

For your information and action effective from 15/3/2020G. Banks and financial institutions must review the status of existing branches and remittance centers in shopping malls and determine their working hours and services provided therein in accordance with these Instructions.

Please accept my highest regards, Fahad bin Ibrahim Al-Shathri Deputy Governor for Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

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Instructions on the Working Hours of Bank Branches and Self-Service Centers and Remittance Centers in Shopping Centers

February 2020G

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First: Definitions The following words and expressions - wherever they appear in these Instructions - have the meanings indicated next to each, unless the context dictates otherwise: Shopping Centers: Large markets that are usually large buildings consisting of more than one floor, containing a large number of different activities such as commercial shops, entertainment venues, and snack restaurants. Independent Branch: A fully independent bank/financial institution branch located in the same building as the shopping center, with an external entrance only. Non-Independent Branch: A fully integrated bank/financial institution branch located inside the shopping center. Independent Self-Service Center Branch: A self-service center located in the same building as the shopping center, with an external entrance only. Non-Independent Self-Service Center Branch: A self-service center located inside the shopping center, or a rented area in the shopping center lobby. Independent Remittance Center Branch: A fully integrated remittance center located in the same building as the shopping center, with an external entrance only. Non-Independent Remittance Center Branch: A fully integrated remittance center located inside the shopping center. Cash Operations: Operations involving the circulation of cash through cash deposits, cash withdrawals, or the deposit, withdrawal, or issuance of checks by tellers. Customer Services: Opening accounts, updating data, printing "Mada" cards and credit cards, and receiving inquiries, requests, and complaints. Marketing and Sales Services: Offering consumer loan products, real estate loans, and credit cards.

Second: General Provisions

1. The working hours of independent bank/financial institution branches and independent remittance center branches remain as they are according to the Institution's instructions issued regarding them.
2. The application of what is stated in these Instructions shall not violate the provisions of the Labor Law and its Executive Regulations.
3. The Institution must be informed of branches whose working hours have been extended, and any subsequent changes regarding them.

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Third: Instructions

A. Non-Independent Branches Non-independent bank/financial institution branches are allowed to work extended hours matching the shopping center's working hours throughout the week, subject to the following controls:

1. Work after 4:30 PM from Sunday to Thursday is limited to providing customer services and marketing and sales services, without providing cash operations.
2. Cash operations are not provided on Fridays and Saturdays, and work is limited to providing customer services and marketing and sales services only.

B. Independent and Non-Independent Self-Service Center Branches Independent and non-independent self-service center branches are allowed to work extended hours matching the shopping center's working hours throughout the week, subject to the following controls:

1. Cash withdrawal or check cashing services via Interactive Teller Machines (ITM) for amounts exceeding (5,000) SAR are not provided after 4:30 PM from Sunday to Thursday.
2. Cash withdrawal or check cashing services via Interactive Teller Machines (ITM) for amounts exceeding (5,000) SAR are not provided on Fridays and Saturdays.

C. Non-Independent Remittance Center Branches Non-independent remittance center branches are allowed to work extended hours matching the shopping center's working hours throughout the week, provided that work after 5:30 PM is limited to providing membership opening services, data updating, adding beneficiaries, printing cards, and providing cash transfer services only via Self-Service Kiosks (KIOSK) or Point of Sale (POS) devices.