Regulatory Alerts2020-03-16
Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers
The Saudi Central Bank (SAMA) issued these Instructions to extend the operating hours of bank branches, self-service centers, and remittance centers located within shopping centers to align with mall hours. The directive mandates that non-independent branches restrict cash operations after 4:30 PM on weekdays and entirely suspend them on weekends, while limiting ATM cash withdrawals to SAR 5,000 via Interactive Teller Machines. Furthermore, non-independent remittance centers must restrict post-5:30 PM operations to membership services, data updates, card printing, and cash transfers via kiosks or POS devices.
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