The strategic directions of the Financial Sector Development Program have been referenced in reducing cash transactions and enhancing electronic payments in order to achieve a cashless society. I inform you of the Central Bank's cooperation with the Ministry of Commerce and Investment and the Ministry of Municipal and Rural Affairs, leading to a decision to require all fuel stations in the Kingdom and their affiliated service centers to provide point-of-sale services through the national payment system (Mada), starting from Sunday, 11/11/1440 AH.

I would like to emphasize the importance of this decision and its alignment with the general strategies of institutions aimed at enhancing the principle of financial inclusion and reducing the percentage of cash transactions, in pursuit of achieving the goals of Saudi Vision 2030.

To ensure the success of efforts to activate this decision and to guarantee the banking sector's readiness to meet the anticipated demand, it is necessary for banks and financial institutions to verify the following:

First: Readiness to receive applications for opening bank accounts for fuel station owners and their affiliated service centers, and to respond quickly to these requests.

Second: Readiness to receive requests for providing point-of-sale devices and responding through various bank channels, such as branches, online banking, and phone banking, to facilitate this requirement for fuel station operators and their affiliated service centers, and to adhere to the specified maintenance times as stipulated in the Mada standards document and service level agreements.

Third: The reduced pricing model for fuel stations mentioned in the Central Bank's instructions issued under Circular No. 361000111820 dated 18/8/1436 AH should be limited to fuel sales services only, and should not be used for any other services associated with fuel stations.

Fourth: Internally circulate this decision to bank employees to ensure they have a sufficient understanding when receiving requests and inquiries in this regard.

For your information, please act accordingly and inform all relevant departments and branches.