The Saudi Central Bank has announced that banks across the Kingdom must now accept Visitor ID as valid identification for opening accounts.
This directive, issued on Sunday, officially recognizes the Visitor ID as a legal document for financial services. Verification will be carried out through approved electronic platforms to ensure security and authenticity.
The decision is expected to benefit thousands of foreign residents and visitors living in Saudi Arabia. Many in the past faced difficulties opening accounts due to limited identification options. By recognizing the Visitor ID, the government aims to make financial access easier and more inclusive.
Officials said the move is part of broader efforts to strengthen the Kingdom’s financial sector and support Vision 2030 goals. Allowing more people to access banking services is seen as a step toward boosting economic participation and reducing reliance on informal cash transactions.
Banks have been instructed to update their systems immediately to comply with the new rule. Customers presenting a Visitor ID will undergo the same due diligence and verification process as those using other forms of identification.
Financial experts welcomed the decision, noting that it could help expand the customer base for banks. They also highlighted that providing secure access to accounts will encourage savings, enable digital transactions, and support small businesses.
The directive comes as Saudi Arabia continues to modernize its banking framework and adopt international best practices. Similar to initiatives in other countries, the policy reflects a growing focus on financial inclusion and digital verification methods.
For comparison, recent global developments also show how regulations are evolving to meet public needs. For instance, a class 2 student assaulted in Panipat school highlighted the importance of official documents and secure systems in protecting individuals. The Saudi banking reform similarly ensures safer and more transparent practices for those living in the Kingdom.
With this new step, authorities expect more visitors and expatriates to join the formal financial system. The policy is likely to encourage trust, reduce risks, and promote stronger ties between individuals and financial institutions.
As implementation begins, all eyes will be on how smoothly banks adjust their operations and how effectively the Visitor ID system supports financial inclusion.
