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2.4 Account Opening Requirements

No: BCT/15631 Date(g): 2/5/2012 | Date(h): 11/6/1433 Status: In-Force

For prepaid accounts issued in the Kingdom, the opening of accounts must be in compliance with the current version of “Rules Governing the Opening of Bank Accounts & General Operational Guidelines in Saudi Arabia” issued by SAMA or with the rules defined in sections 2.4.1, 2.4.2, 2.4.3, 2.4.4 .

For closed loop prepaid payment products not requiring KYC the account opening rules are defined in section 2.4.5.