Resuming Money Exchange Activities for Mohamed Hassan Bitar and Sons Exchange Company

In the name of Allah, the Most Gracious, the Most Merciful Saudi Arabian Monetary Authority Headquarters

Banking Supervision Administration
Ref. No.: 53957 / 41
Date: 1439/12/04
Attachments: None

(Circular / Urgent)

Your Excellency, .................................................................................................
Institution / Company
Greetings,

Subject: Resuming Money Exchange Activities for Mohamed Hassan Bitar and Sons Exchange Company

Referring to the Authority's Circular No. 391000090425 dated 1439/08/23 AH regarding the decision to temporarily suspend Mohamed Hassan Bitar and Sons Exchange Company from conducting its business.

I wish to inform you that it has been decided to resume the business for the aforementioned institution; therefore, please take the necessary action regarding conducting transactions with them and verify their effective implementation of all relevant regulatory and supervisory controls.

Accept my regards,,,

Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision

On behalf of / Ayman bin Mohammed Al-Sayari
Deputy Governor for Investment

Distribution Scope:

• All banks and financial institutions operating in the Kingdom.
• All category A and B exchange companies/institutions operating in the Kingdom.
• Center of Excellence.

P.O. Box 2992, Riyadh 11169, Telegram: MCKZN, Telex: 404400, Tel: 4633000, Fax: 4662119