Regulatory Alerts2024-02-20
Extending the Working Hours of Branches Operating in the Cities of Makkah and Madinah
The Saudi Central Bank mandates extending the operating hours of branches in Makkah and Madinah during Hajj and Umrah seasons, specifically from the start of Ramadan to the end of Dhu al-Hijjah each year. This extension allows up to four continuous additional hours beyond official schedules, provided branches are located near the Two Holy Mosques, maintain adequate staffing, and publicly announce the changes. Financial institutions must submit updated branch lists to the regulator and notify relevant security authorities regarding these extended hours within the holy sites' jurisdiction.
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