Saudi Central Bank Approves Use of Visitor ID to Open Bank Accounts
The step will help banks serve new consumer segments, and is part of a periodic review to ease procedures and support financial inclusion and digital transformation.
The Saudi Central Bank approved the use of the Visitor ID to open bank accounts at banks across Saudi Arabia, in line with account opening regulations. The Visitor ID, issued by the Ministry of Interior, serves as an official identification document for visitors and can be verified through authorised digital platforms. The approval applies across the Kingdom and enables banks to accept this document for onboarding visitors within existing regulatory requirements.
The central bank said the change will allow banks to serve new consumer segments and enhance the visitor experience during their stay in Saudi Arabia. The update comes as part of a periodic review of account rules intended to keep pace with regulatory developments. The review focuses on facilitating banking procedures, promoting financial inclusion, and supporting digital transformation in financial services.
