Regulatory Alerts2022-05-24
Branch Network Regulations
The Saudi Central Bank issued the Branch Network Regulations to establish a unified regulatory framework governing the planning, opening, closing, and relocation of bank branches, self-service centers, and transfer centers across the Kingdom. The directive mandates that all local and foreign banks develop and submit a comprehensive branch network policy to enhance financial inclusion, particularly in priority zones, while promoting digital channel adoption and ensuring customer protection. It further streamlines licensing procedures by permitting the use of inactive licenses within or across smaller zones without prior approval, while imposing strict reporting obligations and customer notification requirements for any network changes.
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