The Banking Agencies

الوكالات المصرفية

📖 Description

An agent (a legal entity contracted by a licensed commercial bank) provides banking services and products on behalf of the bank to its customers, which is contractually defined between the two parties in accordance with the rules issued by the Saudi Arabian Monetary Authority; expands the reach of banking services and financial inclusion for individuals through increasing and diversifying the banking channels available for obtaining financial services; facilitates the process of obtaining financial services; makes them available in different regions through an alternative channel for bank branches in regions that are deprived of banking channels for providing banking services; and facilitates individuals in obtaining the necessary financial services without trouble or hardship.

Supervisory entity: Saudi Central Bank

Licensing entity: Saudi Central Bank