Regulatory Alerts1995-09-20
Instructions to Be Followed When Opening, Relocating or Closing Bank Branches, Instant Remittance Centers and ATMs, Whether Operational or Non-Operational
The Saudi Central Bank mandates that all licensed banks obtain prior written approval before opening, relocating, decommissioning, or altering the operational status of branches, instant remittance centers, or ATMs. The circular explicitly prohibits unauthorized site preparations, speculative bidding on licensed locations, merging standalone ATM licenses with branch licenses, and failing to complete installations within the nine-month license period. Banks are further required to submit feasibility studies, site sketches, and biannual status reports, and must notify the Authority of actual operational commencement dates or reasons for delays prior to license expiration.
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