Regulatory Alerts2016-04-01
Mechanism for the Entry and Exit of Saudi and Foreign Currency via King Fahd Causeway
The Saudi Central Bank (SAMA) issued this circular to formalize the operational procedures for the entry and exit of Saudi and foreign currency through the King Fahd Causeway. It mandates that customs officers seal incoming Saudi currency and forward it to the Dammam branch for inspection, while foreign currency shipments must undergo immediate clearance, metal sealing, and direct transport to authorized bank or exchange facilities. Additionally, the directive establishes strict technical and security requirements for Gulf cash-in-transit vehicles entering the Kingdom, including mandatory armored specifications and licensed armed escort protocols.
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