Friday, June 20, 2025
Saudi Central Bank updates Rules for issuance and operation of credit cards
Updates to the "Credit Card Issuance and Operation Rules" have been released by the Saudi Central Bank (SAMA), which is responsible for supervising and overseeing the financial sector. Most Viewed: Beautiful view of the Shebara island resort in Saudi Arabia
These regulations will replace the existing "Credit and Monthly Debit Card Issuance and Operation Rules."
In line with changes and the variety of credit card products, the revised regulations seek to lower customer costs while increasing transparency and information surrounding credit card transactions, following worldwide best practices.
The rules outline specific procedures for credit card operations and transactions, clarify financial operations and card-related transactions, educate customers about these products, and create a regulatory environment that encourages innovation in the financial sector.
Credit card processing fees have been the subject of an evaluation, assessment, and potential reduction by the Saudi Central Bank and other international payment providers. See Also: On a way to father's burial, woman met with accident and buried beside his father on the same day
As part of its mission to support the objectives of Saudi Vision 2030, SAMA is working to improve and expand the digital payments system and offer a variety of payment options for customers and tourists in the Kingdom at retail outlets and other points of sale.
The updated rules can be viewed by visiting the SAMA website.
Saudi Central Bank updates Rules for issuance and operation of credit cards. Saudi-Expatriates.com
