Regulatory Alerts2003-12-28
Cash Transfers Must Be Coordinated with Security Authorities Well Enough in Advance
The Saudi Arabian Monetary Authority mandates that all banks operating in the Kingdom must coordinate and notify security authorities well in advance prior to any ATM cash loading or transfer operations. This requirement addresses operational disruptions caused by security forces being recalled upon the arrival of cash loading personnel at bank branches and ATMs. Banks are instructed to implement this advance coordination protocol across all regions and governorates to ensure security authorities can effectively perform their duties without delay.
904031799
Saudi Arabian Monetary Authority Headquarters
Banking Supervision Department Ref: 23806 / M.Sh / 290 Attachments: -
Date: 5/11/1424 AH Corresponding: 28/12/2003 AD
Urgent Circular to All Banks Operating in the Kingdom
Dear Sir,
Subject: ATM Cash Loading
Further to the Authority's Circular No. 5922/M.A.T/62 dated 8/4/1421 AH, which outlines the controls for ATM cash loading, specifically the clause requiring coordination and notification of security authorities during cash transfers, we inform you that the Authority received a letter from its branch in Buraydah containing observations from the Qassim Region Police regarding the reporting process. The police stated that they are being recalled when cash loading personnel arrive at the ATMs, which disrupts security operations and causes delays in security authorities carrying out their duties.
Therefore, we request your attention and emphasize the necessity of coordinating with security authorities in advance for transfer operations, enabling them to perform their duties as required, across all regions and governorates of the Kingdom.
Yours sincerely,
Deputy Governor (Signature) Jamaz bin Abdullah Al-Sahimi
Naser/1192