RIYADH, Sept 29 (Techscoop) — Saudi Arabia’s central bank said on Monday it will allow banks to open accounts for visitors using a “Visitor ID,” expanding access to financial services for non-residents as part of the kingdom’s Vision 2030 reforms.
The Saudi Central Bank (SAMA) said the identification document, issued by the Ministry of Interior and authenticated through digital platforms, will be accepted as an official credential for account openings.
“This decision will enable banks to open accounts for new consumer segments and enhance the visitor experience during their stay in the Kingdom,” SAMA said in a statement. The regulator added that the measure comes as part of its periodic review of banking rules and aims to promote financial inclusion and digital transformation.
The move will allow visitors — including tourists, business travelers and pilgrims — to access local wallets and digital payments, reducing reliance on cash, SAMA said in its press release.
Saudi Arabia eases banking rules, permits Visitor ID for account opening