ok what the reglation alrajhi bank in saudi arabia for transfering money

As of my last knowledge update in October 2023, Al Rajhi Bank, one of the largest Islamic banks in Saudi Arabia, has various regulations and procedures for transferring money, including local and international transfers. Here's a general overview of some key points: 1. **Types of Transfers**: - **Local Transfers**: Transfers within Saudi Arabia can often be done seamlessly through online banking, mobile apps, or ATMs. - **International Transfers**: Al Rajhi Bank facilitates international money transfers through services like SWIFT, Western Union, and others. 2. **Account Requirements**: You typically need to have an active bank account with Al Rajhi Bank to initiate a transfer. Some services might also require you to be registered in online banking. 3. **Documentation**: For larger transfers, especially international ones, you may be required to provide documentation such as proof of identity, purpose of the transfer, and any other relevant information as per regulatory requirements. 4. **Fees**: There may be fees associated with money transfers, which can vary based on the type of transfer (local vs. international) and the amount being transferred. 5. **Exchange Rates**: For international transfers, the bank will apply a foreign exchange rate, and it's essential to check what rates are available to understand the total cost. 6. **Regulatory Compliance**: Al Rajhi Bank, like all banks in Saudi Arabia, is subject to regulations set by the Saudi Arabian Monetary Authority (SAMA). This includes compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations. 7. **Transaction Limits**: There could be limits on the amount of money you can transfer, which may vary based on whether the transfer is local or international. For the most accurate and up-to-date information, I recommend visiting Al Rajhi Bank's official website or contacting their customer service directly, as regulations and procedures can change.