The Saudi Arabian Monetary Authority (SAMA) announces that it has been decided to allow the extension of the working hours of the financial transfer centers of banks and to allow all these centers to operate seven days a week, including Friday and Saturday, from (seven) in the morning until (five thirty) in the evening according to the discretion of each bank provided that the working hours of the branches are not less than the times specified in the SAMA's instructions.

SAMA stressed the need for financial transfer centers to adhere to a number of controls, including adhering to the necessary precautionary measures set by the Ministry of Health regarding those who bring workers to workplaces as per recommendation in the preventive guide for Coronavirus (COVID-19) inside the workplace issued by the Ministry of Health. Moreover, they should continues to develop electronic channels, especially applications for smart devices, to enable the customer to obtain all services related to the transfer electronically, including adding beneficiaries, and intensifying awareness campaigns that aim to urge customers to use these channels when making transfers in various means and in various languages, in addition to oblige the transfer centers to continuously intensify the security guards at their branches to ensure the organization of waiting paths inside and outside the branches, and to maintain distance between customers.  Additionally they should continue expansion of the activation of the mobile branches of the transfer centers to serve companies in their locations .

                In order to limit the use of traditional transfer channels, and making use of electronic channels such as: self-service machines (kiosk), automatic teller machines, and smart phone applications, SAMA has confirmed that banks should continue to exempting fees for electronic banking services, which include exemption from transfer fees through electronic channels. Transfer fees outside the Kingdom through traditional channels (bank branches or transfer centers) costs (25) riyals minimum, with a commitment not to exceed the maximum fees stated in the bank tariff reported under Circular No. 381000095093 dated 9/10/1438 AH. In addition, allowing the opening of memberships At remote transfer centers, by using official document to verify the customer's identity from a reliable and independent source.

                In conclusion, SAMA stressed that it will follow through its inspection rounds, the commitment of transfer centers to the controls referred to above, and that it will take all regulatory measures in case of non-compliance.