The Bank may contract with its Agent to provide some or all of the banking services prescribed under this Article. The services provided by the Agent must be stated in detail in its contract with the Bank and must be prominently displayed on the Agent’s business premises and on the website of the Bank, where a full list of all of the Bank’s Agents and their services can be found.
2.
Banks shall be responsible for determining, based on agent risk assessment, the services a particular Agent may provide.
3.
Permissible services for Agents, after the Bank obtains SAMA’s non-objection, are as follows:
a.
Bank accounts opening;
b.
Preparation and submission of loan applications and other related documentation;
c.
Preparation and submission of applications for credit cards, domestic worker salary cards and other cards, as well as other related documentation;
d.
Preparation and submission of bank letters of guarantee and other related documentation;
e.
Cash deposits and withdrawals through ATMs;
f.
Check deposits through ATMs;
g.
Check book request and collection;
h.
Payment of electronic bills, fees and fines for utility services;
i.
Generation and issuance of account statements;
j.
Activation of accounts after obtaining the final approval of the Bank;
k.
Funds transfers, local and international;
l.
Currency exchange;
m.
Issuance of bank debit and credit cards and checks after obtaining the final approval of the Bank;
n.
Encashment of checks;
o.
Provision of Banking services for SMEs;
p.
Reception and submission of POS terminals’ applications;
q.
Sales and marketing services; and
r.
Any other activities as may be determined from time to time by SAMA.
Book traversal links for Article 19: Permissible Activities