Saudi Central Bank Greenlights Use of Visitor ID to Open Bank Accounts

Dubai – The Saudi Central Bank (SAMA) has given the green light to using the "Visitor ID" to open bank accounts in the Kingdom in a move that seeks to increase financial access and speed up digital transformation drives.

The Visitor ID, granted by the Ministry of Interior, will now be an officially recognized identification document and can be authenticated using authorized digital platforms. This action opens up financial services to visitors, a move that demonstrates Saudi Arabia's ambition to modernize its banking sector under Vision 2030.

SAMA stated that the new policy would enable banks to bank previously unserved consumer segments and improve the overall customer experience. The step is also designed to align Saudi banking regulations with international best practices and facilitate financial inclusion.

The news follows as part of the wider review of regulations on accounts by the central bank, aimed at simplifying procedures, limiting administrative obstacles, and ensuring conformity with the continuing regulatory advancements. Authorities highlight that the shift is another development in the Kingdom's plans to develop innovation, appeal for investments, and enhance its standing as a top financial destination in the region.