Regulatory Alerts2020-06-02
Subscription to "Natheer" E-Service
The Saudi Central Bank (SAMA) mandates all banks operating in the Kingdom to subscribe to and utilize the "Natheer" E-Service by July 30, 2020. This electronic subscription enables real-time monitoring of expatriate account holders and money transfer memberships, specifically tracking final exit statuses, visa cancellations, and unreturned return visas. By integrating with official government data, the service allows banks to promptly apply banking account rules and instructions to mitigate both good-faith and fraudulent fund movements.
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