Regulatory Alerts2013-04-14
Operating Rules for Exchange Activities: Monthly Statement of Cash Inflows and Outflows Through Land Ports
The Saudi Arabian Monetary Authority (SAMA) mandates all licensed money changers to submit monthly statements detailing cash inflows and outflows to and from the Kingdom via land, air, and sea border crossings. This circular reinforces existing regulatory obligations under the Rules Governing the Conduct of Exchange Activities, requiring licensed entities to maintain chronological accounting records and provide any additional data SAMA deems necessary for supervisory compliance. The directive applies to Category A and B money changers and utilizes a standardized table format to ensure consistent reporting of transaction types, dates, currencies, amounts in SAR and foreign currency, and originating sources.
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