Region

Jurisdiction

Regulator

2013-04-14

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.

Saudi Arabia

Saudi Central Bank

In the name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority Head Office

Banking Supervision Department Ref. No.: ........................ B.S. Date: 1434/06/04H Attachments: Table

Circular to All Licensed Money Changers

Dear Sirs,

Peace, mercy, and blessings of Allah be upon you,

Pursuant to Paragraph (a) of Article Fifteen of the Rules Governing the Conduct of Exchange Activities issued by Ministerial Decision No. 1357 dated 1432/05/01H, which stipulates that every licensed money changer must provide the Authority with all data it requests at any time, and Paragraph (c) of the same Article, which grants the Authority the right to issue any instructions it deems necessary to apply supervisory and regulatory requirements on exchange activities, as well as Article Seventeen, which mandates every money changer to maintain regular accounting records in which they record their transactions chronologically as specified by the Authority, and to follow the accounting standards it determines when preparing their financial statements, and to provide the Authority with the financial data mentioned in the Article's text, and that the Authority may request any other information or data it deems necessary to verify the soundness of their operations and their compliance with these Rules.

You are hereby informed that all licensed money changers are required to provide the Authority with data regarding the movement of cash inflows and outflows to and from the Kingdom through border crossings (land, air, and sea) on a monthly basis, according to the attached statement.

Yours sincerely,

Deputy Governor for Technical Affairs Abdulrahman bin Abdulmohsin Al-Khulayfi

Distribution Scope: Licensed Money Changers (Category A - B)

P.O. Box 2992, Riyadh 11169, Central Telegram, Telex: 404400, Tel: 4633000, Fax: 4662119

Company or Institution ........................................ (Exchange License No.: ................. EX)

Statement of Cash Inflows and Outflows Through Border Crossings in the Kingdom.

No.	Transaction Type (Outflow - Inflow)	Date	Border Crossing Name	Currency Name	Amount in Foreign Currency	Amount in SAR	Source (Bank or Sending Money Changer)