Regulatory Alerts2021-07-11
Added · Updated
Extension of Prize-Linked Savings Accounts Validity Period
The Central Bank of Saudi Arabia extends the validity period for awarding prizes linked to savings accounts until the end of 2023. This extension maintains the conditions and controls established in circular no. 27/5/3808 dated 10/3/2019. All banks operating in the Kingdom are required to obtain prior approval from the Central Bank before announcing or promoting any prize-linked accounts.
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