License Cancellation of the Dabbous Al-Anzi Agency for Money Exchange

In the Name of Allah, the Most Gracious, the Most Merciful Saudi Arabian Monetary Authority Head Office

Banking Policy Department
Ref. No.: 42008969
Date: 1442/02/18
Attachments: 2 pages

Circular

To: Respected Sirs,
Peace, mercy of Allah and His blessings be upon you,

Subject: Cancellation of the License of Mehna Dabbous Al-Anzi Agency for Money Exchange.

Attached is the Authority's instruction communicated via email on 28/04/2020 regarding the cancellation of the license of Mehna Dabbous Al-Anzi Agency for Money Exchange, which takes effect from the date of its notification to you via email.

For your information.
Yours sincerely,

Yazeed bin Ahmed Al-Sheikh
General Manager of Banking Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom

P.O. Box 2992, Riyadh 11169, Telegram: MARKAZI, Telex: 404400, Tel: 4633000, Fax: 4662414

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Suliman R. Aljabrin
From: Banking Policy Department
Sent: Tuesday, April 28, 3:26 PM 2020
Subject: Cancellation of the License of Mehna Dabbous Al-Anzi Agency for Money Exchange Importance: High

Circular
To: Respected Sirs,

Peace, mercy of Allah and His blessings be upon you,

Based on Paragraph (c) of Article (One) and Paragraph (d) of Article (Three) of the Saudi Arabian Monetary Authority System, issued by Royal Decree No. (23) dated 23/05/1377 AH. And based on Paragraph (a/1) of Article (Fourteen) of the Regulations Governing Money Exchange Activities, issued by Minister of Finance Decision No. (1357) dated 01/05/1432 AH.

Please be informed that the esteemed Governor of SAMA issued Decision No. (61) dated 03/09/1441 AH, based on delegated authorities, to cancel the license of Mehna Dabbous Al-Anzi Agency for Money Exchange issued by SAMA under No. (133/Com) to conduct Category (B) money exchange activities, with its head office located in Arar City.

Accordingly, I hope you take the necessary action regarding refraining from transactions with the aforementioned institution concerning currency buying and selling, along with other banking transactions related to money exchange activities, except for settlement transactions related to its liquidation, which shall not exceed three months from the date thereof. In addition to taking appropriate precautionary measures.

For your information, action in accordance with this circular, and providing us with the measures taken regarding it within one week from its date.

Yours sincerely,

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Suliman bin Rashid Al-Jabrin
Director of Banking Policy Department
P.O. Box 2992, Riyadh 11169
Kingdom of Saudi Arabia
Saudi Arabian Monetary Authority www.sama.gov.sa

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