Regulatory Alerts2025-02-17
Emphasis on the Readiness of the Premises and the Full Operational Capacity of Money Changers During the Ramadan and Hajj Seasons for the Year 1446H
The Saudi Central Bank has issued a circular directing money changers in Makkah, Madinah, King Abdulaziz International Airport, and Jeddah’s Pilgrim City to maximize readiness and full operational capacity during the 1446H Ramadan and Hajj seasons. The directive mandates compliance with sixteen specific operational requirements, including activating all exchange counters, maintaining adequate Saudi Riyal cash across denominations, extending operating hours, managing customer queues, and displaying accurate currency rates. These measures aim to achieve an 85% pilgrim satisfaction rate by 2025 and 90% by 2030, aligning with the Guests of Allah Service Program under Saudi Vision 2030.
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