Regulatory Alerts2020-02-07
Minimum Requirements for Exchange Centers
The Saudi Arabian Monetary Authority issued this circular to establish the minimum physical, technical, and operational requirements for licensed Category A and B exchange centers. The document mandates specific location criteria, including minimum square footage, setback distances, and engineering design approvals, while requiring automated accounting systems, dedicated women's counters, and compliance with anti-money laundering regulations. Licensees must correct and qualify their premises within one year of the circular's issuance to ensure standardized, secure, and customer-friendly operations across all branches.
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