The use of WhatsApp and other instant messaging apps by local banks for customer contacts has been prohibited by the Saudi Central Bank (SAMA). According to the Asharq Al-Awsat daily, SAMA stated that these applications are untrustworthy sources.
SAMA's decision is based on its authority and other relevant rules, as well as its desire to improve the standards of practices and processes that financial institutions under its supervision adhere to in order to reduce risks.
The Central Bank has requested that financial institutions consider whether other, safe channels are available, such as the advantages of enabling instant messaging services like Live Chat or ChatBot within the application or on the financial institution's website, while also taking compliance with the regulations for safeguarding personal information into consideration.
While carrying out the required assessments to ensure compliance, the Central Bank has directed the local banks to work on these protocols and train employees in financial institutions about their contents. This covers all marketing, customer service, and branch staff.
The SADAD system, which is accessible in all Saudi banks and banking applications, allows customers to formally pay any bills or service fees. For all payments, the system is secure. Any fraud occurrence must be reported right away so that the bank may take the appropriate action to get the money back.
These cautions are part of Saudi banks' national awareness programs to increase public knowledge of financial fraud and the need to take proactive measures to prevent scammers from taking advantage of legitimate businesses and charitable organizations.
