SAMA closes down all banks in Saudi Arabia

In continuation of the decision taken by the government to suspend the attendance of employees at the workplace at all the government offices except for those in the health, security and military sectors for a period of 16 days, SAMA has also decided to close down all banks throughout the Kingdom.

The Saudi Arabian Monetary Agency has announced the closure of all banks all over the Kingdom for a period of 16 days starting from Monday. However, there is no need to panic as;

The closure will not affect online banking as you can access it using your phone or computer. There will be no bank charges to transfer money from one account to another during this period.

  • Moreover, banks will continue to load ATM machines with cash. Therefore, there will be no shortage of cash.
  • Some branches will continue to operate but clients are encouraged to use digital banking.

Although your credit cards and debit cards will continue to work, I still recommend withdrawing some funds from banks and keep them at home.

Saudi Arabia has reported 118 confirmed cases of coronavirus so far out of which 3 have fully recovered and discharged from the hospital. Here is the circular issued by SAMA to close down banks.

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Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.