Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
200.2.2 GCC Nationals Not Residing in Saudi Arabia
No: GDBC-656810000067-1440H
Effective from Jan 01 2024 - Dec 31 2023 To view other versions open the versions tab on the right
Bank accounts may be opened for GCC nationals who are not residing in Saudi Arabia, directly by themselves or by a Saudi or GCC citizen authorized by a power of attorney. The bank should obtain the following documents from such individuals:
1.
A copy of the valid national ID.
2.
A copy of the valid passport (if any).
3.
An employment letter from the entity for which he/she works, or from his/her personal business.
4.
A completed account opening form.
5.
A specimen signature.
-
Such documents shall be obtained by the employees of the local bank directly or by the correspondent GCC bank in the GCC country where such individual resides. The GCC bank shall authenticate all documents obtained, and all deposit, withdrawal and transfer transactions shall be effected through the correspondent bank. Receiving such documents and effecting deposit, withdrawal and transfer transactions are also possible through a correspondent bank in the GCC country where the GCC citizen resides. No cash deposits by third party shall be accepted.
-
No checkbook, ATM card or credit card may be given to such individual unless he/she comes to Saudi Arabia and presents to the bank adequate data proving his/her residence in Saudi Arabia. In this case, Rule (200.1.2) shall be applied to such customer, and his/her account status shall be changed.
