Article 21: Relocation, Transfer and Closure of Agent Premises

Relocation, Transfer and Closure of Agent Premises The Bank must ensure the following: a. that its Agent does not transfer, relocate or close its Agent Banking premises without serving a written notice of intention on the Bank at least sixty (60) business days in advance. In these cases, the Bank must apply for SAMA’s non-objection to the measure intended not less than thirty (30) business days prior to transfer, relocation or closure of Agent Banking premises. The Bank must also forward the details and reason(s) for relocation, transfer or closure of premises to SAMA. b. that the Agent posts a notice of the relocation, transfer or closure on the Agent’s premises so as to be clearly visible to the general public at all times. Further, the Agent must advise Customers by an effective channel of its intention to relocate, transfer or close the Agent Banking business.