Article Six: Offering Savings Products to Non-Residents

1. Without prejudice to the provisions of the Anti-Money Laundering Law and the Law on Combating the Financing of Terrorism and their implementing regulations, it is permissible to offer savings products to non-residents in the Kingdom, provided that the bank adheres to the following minimum requirements: 1.1 Compliance with the laws of the customer’s country of residence, -where applicable-, such as obtaining a license from the relevant authorities in the customer’s country of residence, as well as adhering to personal data protection laws, tax evasion laws, and other related regulations. 1.2 Implementation of enhanced due diligence measures, which may include relying on a third party in accordance with the "reliance on a third party" requirements specified in the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Guide. 1.3 Establishing limits and methods for withdrawals, deposits, and redemption of the deposit amount in accordance with the customer’s risk level. 1.4 Offering these products exclusively in Saudi Riyals. 1.5 Ensuring that the agreement with the customer be for a fixed term, with either party having the right to terminate it after providing the other party with sufficient notice through mutually agreed reliable communication channels. Upon termination of the agreement or its expiration without renewal agreement by both parties, the bank must transfer the deposit amount to a current account specified by the customer. 1.6 Obtaining written no-objection letter from SAMA before offering the product, including a request detailing the target percentage of total savings products and time deposits held by the bank. 2. Without prejudice to the requirements of Account Opening Rules that mandate the closure of the resident customer's current account upon their final departure from the Kingdom, the customer is permitted to keep the available funds in the bank by utilizing savings products, provided that this is based on the customer's request, whether before their departure from the Kingdom or after their departure and the closure of the current account.