Referring to SAMA’s Circular No. 27780/MAT/13135 dated 27/5/1431H, which refers to SAMA’s Circular No. 51224/MAT/995 dated 30/10/1430H regarding the phenomenon of individuals and offices placing promotional stickers on ATMs offering early settlement of borrowers’ debts with banks, assisting them in obtaining new loans, and advertising installment sales. Such practices constitute a violation of Article 2 of the Banking Control Law issued under Royal Decree No. M/5 dated 22/6/1386H. Banks are required to implement procedures to prevent the placement of promotional stickers on ATMs, raise awareness among customers regarding the violations and risks of this phenomenon, and instruct branch managers, staff, and relevant department employees not to cooperate with any individual or office in any way or assist anyone engaging in these practices. They must report any individual or entity involved in such activities to SAMA. It is emphasized that any violation or concealment by any official or employee will result in penalties in accordance with the provisions of the Banking Control Law and the Anti-Money Laundering Law.

In light of the continued occurrence of this phenomenon, we stress the necessity for banks to implement measures to prevent the placement of promotional stickers on ATMs, raise awareness among employees about the violations and risks associated with this phenomenon, intensify awareness campaigns for customers about the dangers of dealing with individuals engaging in these activities, and emphasize that these practices violate the Banking Control Law and the Anti-Money Laundering Law. Violators will be penalized in accordance with the provisions of these laws.

Please act accordingly and provide feedback on the actions taken within two weeks from the date of this notice.