Regulatory Alerts2025-09-25
Update the Account Opening Rules by Adding the Visitor ID
The Saudi Central Bank has updated its Account Opening Rules to explicitly permit visitors holding a Visitor ID to open bank accounts. The amendment modifies specific items and rules across Parts Two and Three, removes a prior exception, and introduces a dedicated sub-paragraph detailing documentation, address requirements, visit duration limits, and minor account approvals. Banks are required to implement these changes immediately by updating their electronic registries, verifying visitor identities through reliable sources, and adjusting account freezing and remote opening procedures accordingly.
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