Closure of the State Bank of India Branch

In the Name of Allah, the Most Gracious, the Most Merciful

9041070581

Saudi Central Bank (SAMA)
Headquarters

General Directorate of Bank Supervision Bank Licensing Division

Reference No.: ....................................
Attachments: ....................................

Reference No.: 391000003370 Date: 1439/01/12
Attachments: ....................................

Important / Urgent Circular

To: .................................... Dear Sir, With regards,

Subject: Closure of the State Bank of India Branch.

With reference to the Saudi Central Bank's announcement dated 10 August 2017 regarding the application by the State Bank of India (SBI) branch in Jeddah to cease banking operations in the Kingdom of Saudi Arabia, due to changes in the parent bank's strategic plans to reposition its branches globally. The Authority has granted the branch approval to cease banking operations upon fulfilling regulatory requirements and safeguarding the rights of customers and depositors by the end of 2017.

For information and necessary action, if any.

Yours sincerely,

Ahmed bin Abdullah Al-Sheikh Deputy Governor for Supervision

Distribution Scope:

• All banks operating in the Kingdom.
• All insurance companies.
• All financing companies.

P.O. Box 2992, Riyadh 11169, Central Telex: 404400, Telephone: 4633000, Fax: 4662119