Circular

Respected Sirs,

Peace, mercy and blessings of God be upon you,

Regarding the emphasis on the readiness of premises and full operational capacity of money changers for the seasons of Ramadan and Hajj for the year 1447H.

Based on paragraph (b) of the General Conditions for the Organization and Operation of Money Changers, SAMA has issued various circulars or guidelines regarding the operational capacity of money changers. This emphasis is one of the main objectives to achieve Vision 2030, which aims to enhance the quality of services provided by money changers and ensure that money changers are among the key services provided to guests of Hajj and Umrah.

Therefore, the Governor of SAMA has emphasized that money changers operating in Makkah Al-Mukarramah, Madinah Al-Munawwarah, and other cities within the boundaries of the Holy Cities should maintain a high level of readiness and provide early services to enhance the quality of services provided by money changers and ensure they meet the highest standards during the seasons of Ramadan and Hajj, with the implementation of all systems and guidelines as specified in Table 1 below.

For your information and action,
Yours faithfully,
Yazeed bin Ahmed Al-Sheikh
Deputy Governor for Supervision
Saudi Central Bank (SAMA)

Money Changers operating in Makkah Al-Mukarramah, Madinah Al-Munawwarah and other cities within the boundaries of the Holy Cities.

Table 1

1. Implementation of organized systems for money changers and their integration with SAMA.
2. Providing adequate foreign currency to meet the needs of seasonal visitors.
3. Providing sufficient cash to all money changers operating in the Kingdom or affiliated with them, and providing services proportionate to the number of Hajj and Umrah visitors during the seasons of Ramadan, Eid al-Fitr, and Eid al-Adha.
4. Maintaining the readiness of money changers and their branches throughout the seasons of Ramadan and Hajj, and during Eid al-Fitr and Eid al-Adha, as well as regular days.
5. Ensuring the availability of at least one manager from the authorized managers on duty permanently (including that):
   .1 Providing sufficient operational cash for money changers.
   .2 Providing sufficient operational equipment for money changers.
   .3 Providing sufficient operational staff for money changers.
6. Implementing security systems for employees and cashiers, ensuring sufficient lighting, installing cameras, placing seating for seasonal visitors.
7. Placing clear signs for money changers inside the premises.
8. Updating the operating hours of money changers according to SAMA's regulations.
9. Issuing receipts for all transactions, and providing customers with copies thereof.
10. Placing clear signs and notices for the public regarding customers' rights.
11. Ensuring the availability of sales points, providing ATMs and other electronic payment devices for customers with sufficient cash for absentees.
12. Maintaining the presence of money changers within the designated areas and limits, providing sufficient security personnel.
13. Providing sufficient cash for money changers, updating the operational files of affiliated money changers, and submitting reports for affiliated money changers.
14. Ensuring the availability of qualified staff for money changers, submitting the names of licensed money changers and auditors.
15. Implementing security systems to monitor the movement of money changers, ensuring coordination with SAMA and the Saudi Central Bank accordingly.
16. (Adjusted numbering to match source sequence exactly.)