Regulatory Alerts2018-11-07
Relief and Humanitarian Aid Abroad
The Saudi Arabian Monetary Authority (SAMA) issued this circular to mandate that all banks, financial institutions, and Category A exchange companies strictly implement Royal Order No. 55871, designating King Salman Humanitarian Aid and Relief (KSrelief) as the sole competent entity for receiving and distributing all governmental and private relief, charitable, and humanitarian donations abroad. The circular reinforces KSrelief's exclusive mandate by citing a confirming telegram from the Royal Court, ensuring that all cross-border humanitarian contributions are channeled exclusively through this designated center. Financial entities operating within the Kingdom are therefore required to align their operational procedures with KSrelief's authority and comply with all applicable regulatory frameworks governing these foreign aid disbursements.