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Extending Working Hours on Saturdays for Services Related to Subsidized Real Estate Loans

No: 245430000067 Date(g): 26/12/2018 | Date(h): 18/4/1440

Translated Document

Based on Article 16 of the Banking Control Law, and further to SAMA Circular No. 35487/BCS/586 dated 09/10/1427 H regarding the working hours of bank branches for the public, and in continuation of SAMA's role in achieving the national goals included in Vision 2030.

I would like to inform you that it has been decided to provide additional working hours on Saturdays to provide services related to real estate products associated with the "Subsidized Financing" mortgage program provided by the Ministry of Housing and the Real Estate Development Fund, for a period of one year from this date, according to the following controls:

  1. The additional hours shall consist of five flexible working hours, from 12:00 PM to 8:00 PM.
  2. Work during the additional Saturday hours shall be limited to providing services related to real estate products associated with the "Subsidized Financing" mortgage program, with no other banking services offered.
  3. The branches operating during the additional hours shall be geographically distributed to cover all regions of the Kingdom.
  4. Sufficient bank employees must be available to serve customers.
  5. Announcement of the branches operating during the additional hours and the services provided.
  6. Notify SAMA of the number of branches operating and their specific working hours.