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Physical Presence

Date(g): 24/2/2020 | Date(h): 1/7/1441

Effective from Feb 24 2020 - Feb 23 2020
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An applicant must maintain a physical presence for its Digital-only Bank in Saudi Arabia to be its principal place of business (i.e. head office). A Digital-only Bank is not expected to establish physical branches; however, on exceptional basis, SAMA may require a Digital-only Bank to establish costumer service centers in order to facilitate customer interaction, enquiries or complaints.