Regulatory Alerts2015-10-08
Compliance with Regulations and Instructions on Cash Movement and the Security Safety Manual
The Saudi Arabian Monetary Authority’s Banking Supervision Department mandates strict compliance from all Kingdom-based money exchange companies and institutions with existing cash movement regulations and the Security Safety Manual. The circular explicitly warns that any entity proven to transport or receive funds outside authorized channels will face regulatory penalties under the Banking Control System. This directive reinforces existing financial transport protocols and security standards without introducing new rules.
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