SAMA Directs all Banks to Work Remotely

The Saudi Arabian Monetary Authority (SAMA) directed all financial institutions; including banks and money exchanges in the Kingdom to work remotely for a period of 16 days.

The decision came as a precautionary measure to prevent the spread of the Coronavirus.

SAMA also called on some branches of banks and financial firms to provide necessary services that are not available online.

It also said that monitoring ATMs continuously is a must to ensure the availability of cash.

The crisis management committee of banks and financial institutions will continue to furnish SAMA with daily reports over work flow.

The central bank also said all money transfers between banks through the express system shall be free of charge for all customers during this period.