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  • Instructions on the Working Hours of Bank Branches, Self-Service Centers, and Remittance Centers in Shopping Centers

    No: 41049329 Date(g): 11/3/2020 | Date(h): 16/7/1441Status: In-Force

    Translated Document

    In accordance with Article Sixteen of the Banking Control Law and in reference to the Central Bank circular No. 35487/MAU/586 dated 09/10/1427H. concerning the working hours of bank branches for the public.

    We present the following instructions. These are related to the working hours of bank branches, self-service centers, and remittance centers in shopping malls with the purpose of extending their optional hours under specific guidelines and in keeping with applicable regulations.

    For your information and action accordingly as of 15/3/2020G. All banks are required to review the status of their existing branches and remittance centers within shopping malls and adjust their working hours and provided services accordingly.
     

    • First: Definitions

      The following terms and phrases - wherever used herein- shall have the corresponding meanings, unless the context indicates otherwise:

      Shopping malls:  Large, enclosed markets, typically consisting of multiple floors and containing various businesses, entertainment venues, and food outlets.

      Independent Branch:  A fully integrated, standalone bank branch located in the same building as the shopping mall, accessible solely through an external entrance.

      Non-Independent Branch: A fully integrated bank branch located within the shopping mall.

      Independent Self-Service Center Branch: A standalone self-service center within the mall building, accessible solely through an external entrance.

      Non-Independent Self-Service Center Branch: A self-service center located inside the mall, or in a rented space in the mall’s lobby.

      Independent Remittance Center Branch: An independent fully integrated remittance center branch within the mall. The branch entrance is external only.

      Non-Independent Remittance Center Branch: A fully integrated remittance center branch located within the shopping mall.

      Cash Transactions: Transactions that involve the exchange of cash through deposits, cash withdrawals, or the deposit, withdrawal, or issuance of cheques through tellers.

      Customer Services: Opening accounts, updating information, printing "MADA" cards and credit cards, and receiving inquiries, requests, and complaints.

      Marketing and Sales Services: Offering consumer loan products, real estate loans, and credit cards.

    • Second: General Provisions

      1. The working hours of independent bank branches and independent remittance center branches shall remain as per the instructions issued by the central bank regarding them.
      2. The application of what is stated in these instructions shall not result in any violation of the provisions of the Labor Law and its implementing regulations.
      3. The Central Bank must be informed about any branches with extended working hours, as well as any subsequent changes.
         

    • Third: Instructions

      A. Non-Independent Branches.

      Non-independent bank branches are allowed to operate for extended working hours in line with the mall's working hours throughout the week, following these controls:

      1. Operations after 4:30 PM from Sunday to Thursday shall be limited to customer service and marketing and sales services, any cash transactions are prohibited during these hours.
      2. Cash transactions shall not be provided on Fridays and Saturdays, with operations limited to customer service and marketing and sales services only.

      B. Independent and Non-Independent Self-Service Center Branches.

      Independent and non-independent self-service center branches are allowed to operate for extended working hours in line with the mall's working hours throughout the week, following these controls:

      1. The cash withdrawal or cheque cashing service shall not exceed an amount of (5,000) SAR through Interactive Teller Machines (ITM) after 4:30 PM from Sunday to Thursday.
      2. The cash withdrawal or cheque cashing service shall not exceed an amount of (5,000) SAR through Interactive Teller Machines (ITM) on Fridays and Saturdays.

      C. Non-Independent Remittance Centers.

      Non-independent remittance center branches are allowed to operate extended working hours in line with the mall's working hours throughout the week, provided that operations after 5:30 PM are limited to membership opening services, data updates, beneficiary additions, card printing, and providing cash transfer services only through self-service machines (KIOSK) or point-of-sale devices.