The Saudi Central Bank (SAMA) has updated its banking regulations to permit visitors to open bank accounts using their Visitor ID, an official document issued by the Ministry of Interior. The move aims to improve visitor experience, promote financial inclusion, and accelerate digital transformation in the Kingdom’s banking sector.
The Visitor ID, linked to the government’s Absher platform, can now be verified digitally, enabling tourists, business travelers, and pilgrims to access banking services without relying on physical documents. This allows visitors to use local mobile wallets, participate in digital payments, and reduce dependence on cash during their stay.
SAMA emphasized that the regulatory update will open banking services to new customer segments previously constrained by identification requirements. The decision aligns with Saudi Arabia’s Vision 2030, which seeks to enhance the tourism sector and build a digitally-enabled economy.
By allowing accounts to be opened with Visitor IDs, SAMA expects to strengthen the Kingdom’s cashless economy, streamline financial services, and improve overall efficiency in banking and payments. The measure is part of SAMA’s periodic review to keep banking regulations in line with technological and market developments.
