Regulatory Alerts2015-02-25
Circular Re. Guide to Organize Operational Procedures for Money Exchange Centers
The Saudi Arabian Monetary Agency (SAMA) has issued a "Guide to Organize Operational Procedures for Money Exchange Centers," which complements existing regulations, including anti-money laundering and counter-terrorism financing rules. All Category A and B money exchange centers operating in the Kingdom are required to comply with the Guide's provisions within two months from the circular's date. The Guide will also be published on SAMA's official website.
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