Coronavirus in Saudi Arabia

SAMA Announces to Close all Banks in Saudi Arabia

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Another hour, another new, corona-virus (Covid-19) has become the biggest headline with rapidly changing economic, social and mental challenges around the Globe. With countries like China known as 3rd Superpower is feeling helpless and trying its best to combat the deadly disease, other countries believe in taking the necessary precautionary steps to avoid the incidence of the lethal virus in the country.

Saudi Arabia is very keen on protecting its citizens & Saudi expats from corona-virus, which is depicted by the various statements and orders passed by the authorities over a while from restricting travelling to avoiding gathering at mosques.

Recently the country has announced another significant restriction, and that is closing bank and employees working at government office.

All Banks to be Stopped Working in the Country Because of Corona-virus

The Saudi Arabian Monetary Agency has announced that,

The closure of all Saudi banks all over the kingdom for a period of 16 days from Monday March 16, 2020.

Will Online Banking be stopped or Not?

The closure of all Saudi bank will not affect the online banking as citizens and Saudi expats can access the online banking through mobile or computer.

Will there be any Bank Charges for Transferring the Money

There will be no bank charges to transfer money from one bank account to another bank account. But keep in mind that bank charges will be deducted for transferring money to international account.

Will ATM Machines & Credit and Debit Card be Stopped or Not?

According to SAMA, all banks are directed to load money into the ATM machines and ensures that cash is available at all ATM machines. While credit cards and debit cards will continue in the same manner as before.

Will Private Sector be Closed Soon?

As the rumors surrounding, that after the close of government offices and banks. Saudi Arabia will soon announce to close private sectors which means that citizens and Saudi expats will work from their homes. However, this news has not been confirmed by any medium.

We will keep update you regarding the new development in Saudi Arabia regarding the preventative measures taking by Saudi Arabia. Till then, please share our article and subscribe to every update. 

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