SAMA increases maximum threshold for electronic portfolios

The Saudi Arabian Monetary Agency (SAMA) has informed the licensed payment providers in the Kingdom that the maximum amount which can be fed into an electronic portfolio is 20,000  Riyals a month. The aim is to encourage electronic transactions to follow  precautionary measures being put in place as a result of the COVID-19 crisis.

SAMA has also stressed that payment service providers should adhere to the measures by providing customers with suitable contact means and offering guidance and directives to help them with their services.

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