Regulatory Alerts2011-12-24
ATM Maintenance and Replenishment
The Saudi Arabian Monetary Authority (SAMA) Bank Inspection Department mandates that all banks operating in the Kingdom strictly enforce existing directives requiring ATM maintenance and cash replenishment personnel to carry official identification permits and wear uniforms bearing their employer's logo. This directive addresses observed non-compliance, including the use of private vehicles and inappropriate attire by service providers, and requires banks to formally instruct their contracted maintenance firms to adhere to these operational standards. SAMA will actively monitor compliance and will apply regulatory penalties to any bank found failing to implement these controls.
In the name of Allah, the Most Gracious, the Most Merciful Saudi Arabian Monetary Authority Head Office
Bank Inspection Department Ref. No.: 2453/AT/5498 Attachments: ....................................
Date: 29/1/1433H Corresponding to: 24 DEC 2011
"Circular"
Dear Sir, Bank: ........................................................
Greetings:
Circular to All Banks Operating in the Kingdom
With reference to the Authority's Circular No. 123/AT/4567 dated 27/2/1429H, supplementary to Circular No. 287/AT/6898 dated 20/1/1420H, regarding the procedures and controls to be followed when performing ATM maintenance, including the requirement for ATM maintenance workers to carry permits bearing their names and personal photos stamped with the official seal of their employing entity, as well as the requirement for companies and institutions performing maintenance to have a specific logo on their vehicles and employees' uniforms. And whereas the Authority has observed during its follow-up inspections of certain bank-owned ATMs, as well as through reports from security agencies, that some specialists performing ATM maintenance and cash replenishment are using their private vehicles and wearing inappropriate clothing that does not comply with the governing regulations.
Therefore, we request your confirmation of compliance with the aforementioned circular, and to formally instruct contracted companies to adhere to these requirements. The Authority will continue to monitor compliance with these instructions and will apply regulatory measures against any non-compliant bank.
For your information, and please accept my best regards,,,
Al-Ashaan Director, Bank Inspection Department Khaled bin Saleh Al-Sabeel
Distribution Scope:
- All banks operating in the Kingdom.
- Zayan Al-Saqri / Circular
P.O. Box 2992, Riyadh 11169, Telex: 404400, Tel: 4662440, Fax: 4662865