Saudi Arabian Monetary Authority quashes rumors of bank account freezes

  • 7/6/2020
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RIYADH: The Saudi Arabian Monetary Authority (SAMA) on Monday quashed rumors it would freeze bank accounts of expatriate workers whose incomes did not match the standard wage of their professions. The authority used its Twitter account to debunk the reports circulating on social media and denied they had any basis. It said banks in the Kingdom follow regulations regarding accounts of all customers and take measures only in accordance with the appropriate laws and instructions. Saudi lawyer Bayan Zahran said spreading rumors such as these on social media is a punishable crime subject to anti-cyber crime law penalties, which range from imprisonment to fines, depending on the extent of the damage. She urged people to avoid spreading rumors to prevent the legal repercussions.

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