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200.1.8 Credit Cards for Non-Resident Foreigners Employed by Resident Saudi Companies
No: 65681/67
Date(g): 3/7/2019 | Date(h): 1/11/1440
Status: In-Force
The bank may issue credit cards to a selected, limited category of non-resident foreigners employed by a limited category of major Saudi companies having relationship with the bank. Such employees should have jobs that necessitate moving from a place or country to another (such as private airline pilots, stewards and stewardesses), and they do not have residence cards for any country where they go, including Saudi Arabia. The Saudi company hiring such employees is responsible for covering their local and international transportation expenses by credit cards. In this case, the bank shall observe the following conditions when issuing such credit cards for those employees:
1.
The credit cards shall be issued through the resident Saudi company for which such employees work.
2.
The Saudi company shall have good creditworthiness and a sound financial position.
3.
All individuals, for whom credit cards or debit cards are required to be issued, shall be employed by the Saudi company, and documents proving such shall be obtained.
4.
The Saudi company shall ensure in writing that the said cards will be properly used and that the company will bear all implications of use thereof by its employees.
5.
The Saudi company, rather than the employees to whom the cards are delivered, shall pay all due payments related to the cards.
6.
The maximum credit limit per card shall not exceed the limit allowed to other customers, corresponding to card category.
7.
Dealing under this system shall be based on a formal agreement entered into between the bank and the company prior to the issuance of such cards.
8.
The company shall provide the bank with the agreement, signed by the company and its employees, that determines the responsibility related to the issuance and use of such cards.
