The Saudi Central Bank (Sama) has announced that it is updating the regulations of the temporary procedures to protect bank clients from financial fraud.

All the banks in the kingdom were informed of these procedures last week upon assessments and follow ups that had been made over the past few days, reported SPA.

The update involves bringing back the minimum limit of daily transfers for bank clients to its previous limit, where the client can reduce this limit through contacting banks, it stated.

Also as per the new Sama update, clients will be permited to open bank accounts online as per the organizational procedures, provided that the updated regulations come into force as of April 12, said the report.

The Saudi Central Bank has urged bank clients to practice the highest degrees of caution against fraud operations and have warned them not to disclose any bank or personal details such as the passwords and PIN numbers and be doubly careful when doing transactions online, it added.

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