Regulatory Alerts2021-10-21
Requirements for ATM Cash Feeding with Sixth Issuance Currency and Inclusion of 200 Riyal Denomination
The Saudi Central Bank (SAMA) mandates that all operating banks feed their ATM cash boxes exclusively with Sixth Issuance currency denominations starting 1 January 2023, while requiring the inclusion of the 200 Riyal denomination in all internal branch and transfer center ATMs before 28 January 2023. Banks retain discretion over adding the 200 Riyal note to external ATMs based on location and customer demand, but must submit their inclusion plans via email to the Circulating Currency Supervision Department within two weeks of this circular's issuance. This directive supersedes previous distribution guidelines to enhance circulating currency quality, optimize ATM operations, and standardize customer cash access across the Kingdom.
Saudi Central Bank (SAMA)
Reference No.: 43023332
Date: 15/03/1443 AH
Attachments: None
Circular
To Whom It May Concern, Peace be upon you.
Subject: Feeding Automated Teller Machines (ATMs) with Sixth Issuance currency denominations only. And inclusion of the 200 Riyal denomination in ATMs.
With reference to Circular No. 27/27 (prev.) dated 19/12/1434 AH regarding the distribution of cash denominations in ATMs for local banks, and Circular No. 267/30902 dated 26/8/1440 AH regarding cash feeding requirements for ATMs, and in light of the Bank's commitment to enhancing the efficiency and quality of circulating currency, and meeting users' needs for various cash denominations in ATMs, the Saudi Central Bank confirms that all operating banks must focus on feeding and maintaining currency in the Bank's ATMs, adhering to the following:
First: ATM cash boxes shall be fed with Sixth Issuance denominations only, starting from 01/01/2023 AD.
Second: The 200 Riyal Sixth Issuance denomination shall be included in all internal ATMs at branches and transfer centers, while the mechanism for including it in external ATMs remains at the Bank's discretion, based on location characteristics and customer needs, prior to 28/01/2023 AD.
The Saudi Central Bank further emphasizes the importance of notifying the above, and providing the Circulating Currency Supervision Department with the Bank's plan for including the 200 Riyal denomination in ATMs via email (ATM-SLA@SAMA.GOV.SA), within two weeks from the date of this circular.
For information and necessary action. Yours sincerely,
Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision
Distribution Scope:
- Banks and financial institutions operating in the Kingdom
P.O. Box: 293, Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 643 3000