The Saudi Arabian Monetary Agency (SAMA) issued rules for governing the activity of banking agency, which sets the legal framework for providing banking service through agents on behalf of banks. The rules aim to expand banking services and products, enhancing the financial coverage of community members who do not deal with banks and encourage banks to deal with agents when providing services to reduce costs and support financial coverage. SAMA also hopes to establish an organizational and regulatory framework for the activity of the banking agencies, through which it can provide banking services and products while ensuring full compliance with the provisions of the banking control system as well as rules of implementing its provisions and instructions. The rules also aim at setting the minimum standards and requirements for bank agents to regulate their business and determine activities they are allowed to perform. In addition, they should be able to provide the minimum standards related to data and network security, customer protection and risk management, which are crucial for conducting the activity of the banking agency. According to the rules, the board of each bank assumes full responsibility for the practices and commitment of its agents who must have minimum appropriate technical systems for risk management, customer protection, anti-money laundering, fraud control, and embezzlement. The rules dictate that SAMA can carry out field inspections through its employees, as it deems fit at any time, and the bank and its agent shall provide any information that may be requested by the Authority’s employees. The agents responsibilities include, as a minimum, professionally dealing with customers, due diligence procedures for customers when conducting transactions- including identifying the clients authentication mechanism, providing a suitable-sized screen for the customer to review and verify the process data, and taking measures to protect customers by providing proof of procedures. They are also required to facilitate the process of reporting customer complaints to the bank and disclose mandatory information as stated in the regulations of the institution, while adhering to all rules, principles, and bylaws of the bank, including the principles and rules of ethical and professional behavior of the bank. The rules identify entities eligible for appointment as agents, namely companies except commercial banks and finance companies in a manner that does not conflict with the corporate system, post offices, small and medium enterprises such as chains of shops and branches, and any other entities that may be specified by SAMA. After the bank receives the Authority’s approval, agents are allowed to perform various services including: opening bank accounts, the preparation, and submission of loan applications and other related documents, also submission of applications for credit cards and other related documents. They can also deposit and withdraw cash at ATMs, deposit checks at ATMs, request and receive checkbooks, pay electronic bills, pay fees and fines for public services, establish and issue a statement of account. SAMA published the entire regulations and rules on its website for revision and public comment before adopting its final version.