The Saudi Central Bank (SAMA) has approved the use of the Visitor ID for opening bank accounts in the Kingdom. The decision aligns with banks’ existing account opening rules and aims to expand financial access for visitors while supporting digital transformation in the banking sector.
Expanding Financial Access for Visitors
The Visitor ID, issued by the Ministry of Interior, now serves as an official identification document for visitors. It can be verified through authorised digital platforms, ensuring secure and compliant banking procedures. This change enables banks to cater to new consumer segments, thereby enhancing the visitor experience during their stay. Additionally, it reflects SAMA’s commitment to improving access to financial services for both residents and non-residents.
Supporting Digital Transformation and Inclusion
SAMA noted that this update is part of its periodic review to stay aligned with industry developments. The regulatory adjustment is designed to simplify account opening processes, promote financial inclusion, and strengthen digital banking services across the Kingdom. By facilitating smoother access to banking, the move contributes to ongoing efforts to modernise financial infrastructure and enhance the overall visitor experience.
