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1. Pre-Application Consultations

Effective from Jan 01 2024 - Jan 12 2019
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29.Prospective applicants for a license to carry on banking business in Kingdom of Saudi Arabia are encouraged to contact SAMA to discuss their plans prior to submitting a formal application. Consultations with prospective applicants before they submit an application will help them to:
 
 I.Understand SAMA’s licensing procedures.
 
 II.Understand SAMA’s expectations of banks, and in particular any concerns that SAMA might have early on, and which will help the prospective applicant make an informed decision about whether to spend time and other resources on an application that may not progress further.
 
30.To start the pre-application process, prospective applicants should contact SAMA to arrange an initial meeting.