Saudi Arabia has officially approved Visitor ID access for bank account opening, marking a major regulatory breakthrough under its Vision 2030 transformation agenda. The Saudi Central Bank (SAMA) announced that visitors can now use their Ministry of Interior-issued Visitor ID to open bank accounts across the Kingdom. As a result, financial access is now streamlined for millions of tourists, business travelers, and pilgrims.
Digital Banking with Visitor ID Approval
The Visitor ID, authenticated via the government’s Absher platform, now qualifies as a valid credential for banking services. Thanks to this update, visitors can use mobile wallets, make digital payments, and avoid relying on cash. Moreover, it supports broader financial inclusion and enhances the overall visitor experience.
“This decision will enable banks to open accounts for new consumer segments and enhance the visitor experience during their stay in the Kingdom,” SAMA stated. The policy stems from a periodic review process designed to keep banking regulations aligned with market needs.
Expanding Visitor ID Banking Through Fintech Integration
By simplifying account opening procedures, the Visitor ID access initiative empowers short-term residents to participate in Saudi Arabia’s growing fintech ecosystem. Banks benefit as well, gaining access to new customer segments and improving service delivery to transient populations.
In addition, this move complements the Kingdom’s digital transformation goals. It reflects a commitment to modernizing financial infrastructure while promoting tourism and economic diversification.
Visa Reforms Support Economic Diversification
In parallel, Saudi Arabia launched a new Skill-Based Visa System in July 2025. This visa framework categorizes expatriates into high-skilled, skilled, and basic tiers based on education, experience, and salary. Applicants must secure verified job offers and meet strict documentation standards. Furthermore, employers face fines of up to SAR 50,000 for non-compliance.
These visa reforms aim to attract global talent for mega-projects like NEOM, Qiddiya, and the Red Sea Project. They also streamline immigration processes and support labor market modernization.
Saudi Arabia’s Unified Push for Global Competitiveness
Together, the Visitor ID access update and visa reforms reflect Saudi Arabia’s commitment to economic diversification, tourism growth, and global competitiveness. By bridging access to financial services and refining visa pathways, the Kingdom is positioning itself as a premier destination for investment, innovation, and digitally empowered travel.
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