SAMA Approves the Use of “Visitor ID” for Opening Bank Accounts
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The Saudi Central Bank (SAMA) announced the approval of using the “Visitor ID" for opening bank accounts at banks in the Kingdom of Saudi Arabia, in accordance with banks' account opening rules. The “Visitor ID," issued by the Ministry of Interior, serves as an official identification document for visitors to the Kingdom, and it can be verified through authorized digital platforms.
This decision will enable banks to open accounts for new consumer segments and enhance the visitor experience during their stay in the Kingdom. SAMA also clarified that this update to the bank account rules is part of a periodic review, which keeps pace with regulatory developments, facilitates procedures for opening and operating bank accounts, and further promotes financial inclusion and supports digital transformation initiatives in banking services.
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