Regulatory Alerts2024-02-18
Working Hours of Feeding and Maintaining ATMs and Transferring Funds during the Holy Month of Ramadan for the year 1445 H
The Saudi Central Bank has issued a circular mandating that all banks and exchange offices in the Kingdom adhere to specific working hours during Ramadan 1445 H, setting cash transfer operations from 9:00 AM to 10:00 PM and requiring 24/7 ATM feeding and maintenance in major cities, commercial centers, airports, and railway stations (with other cities operating from 7:00 AM to 10:00 PM). The directive explicitly requires financial institutions to maintain compliance with established security precautions outlined in Royal Decree No. (M/81) and its executive regulations regarding the transfer of cash, precious metals, and valuable documents. These adjusted operational hours apply throughout Ramadan while remaining subject to any additional determinations made by relevant security authorities.