The Banking Executive Magazine - September 2025 Issue

Saudi Central Bank Saudi Central Bank APPROVES USE OF VISITOR ID TO OPEN BANK ACCOUNTS The “Visitor ID,” issued by the Min- istry of Interior, serves as an official identification document for visitors and can be verified through author- ized digital platforms The Saudi Central Bank (SAMA) an- nounced the approval of using the “Visitor ID” to open bank accounts at banks across the Kingdom, in line with account opening regulations. The “Visitor ID,” issued by the Min- istry of Interior, serves as an official identification document for visitors and can be verified through author- ized digital platforms. SAMA said the decision will allow banks to serve new consumer seg- ments and enhance the visitor expe- rience during their stay in Saudi Arabia. The central bank added that the up- date is part of a periodic review of account rules aimed at keeping pace with regulatory developments, facil- itating banking procedures, promot- ing financial inclusion, and supporting digital transformation in financial services. the BANKING EXECUTIVE 24 ISSUE 201 SEPTEMBER 2025