Coronavirus in Saudi Arabia

SAMA: In 3 Cases Bank Accounts will not Freeze for 30 Days

Every day the situation of the Coronavirus becomes worst. Another hour, another minute Coronavirus (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 from Coronavirus, which is depicted by the various statements and orders passed by the authorities over a while, from restricting traveling to avoiding gathering at mosques. Under this deadlock, the citizens are worried about the deadlines and expiry of their documents. What does the government order to facilitate citizens in this regard? Read all about it in the article below.

Bank Accounts will not be Freeze as per New Order

The government has ordered the relevant authorities informing citizens and Saudi expats that Citizens’ National Identity Cards and Saudi Iqama, if expired, won’t result in freezing of their bank account. The Saudi financial administration has issued instructions to all banks on this new order. Read more: SAMA Announces to Close all Banks in Saudi Arabia

Why does Saudi Arabian Monetary Authority (SAMA) make this Decision?

According to the Saudi Press Agency (SPA), the Saudi Arabian Monetary Authority (SAMA) has said that,

After assessing the conditions caused by the Coronavirus, it has been decided to provide more services to consumers. All banks have been instructed not to suspend bank accounts on the expiry of Saudi citizens’ ID cards and Saudi expat Iqama.

What Instructions are Changed as per the Current Pandemic?

Saudi Arabian Monetary Authority (SAMA) informed media that, Banks have also been instructed that some of the reasons for the bank account suspension will not be worked out promptly. Similarly, accounts that have not been transacted in a while should not be suspended.

What did Saudi Arabian Monetary Authority (SAMA) Advise the Banks Across the Country?

Saudi Arabian Monetary Authority (SAMA) advised the banks to facilitate citizens saying,

Banks should maximize online service, ensure ATMs, and credit card service functionality.

Indeed these steps facilitate the citizens and allow them to stay quarantine and stay protected. The unnecessary hype and tension are reduced, which will allow the citizens to actively support the country’s measures as a part of precaution. We wish that the pandemic will soon end, and everything will be back to normal. Till then, share our article and subscribe for every minute detail on the current happening.

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