SAMA issues regulations for banking agency activities

The Saudi Arabian Monetary Authority (SAMA) has published on its website the rules and regulations for banking agency activities, setting the legal framework for providing banking service through agents on behalf of banks.

The regulations aim to promote financial inclusion through expanding the banking services in-line with Vision 2030, the kingdom’s central bank said in a statement.

According to data compiled by Argaam, SAMA in September 2018 called on public opinion on the draft regulations governing banking agents.