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5-1) Security Systems and Devices

No: 361000067859 Date(g): 25/2/2015 | Date(h): 7/5/1436 Status: In-Force

Translated Document

Money exchange centers must adhere to the instructions outlined in the Law of Private Security Services and its implementing regulations issued by Royal Decree No. M/24, dated 8/7/1426H, the Law of Transporting Money, Precious Metals, and Valuable Documents issued by SAMA, No. M/81, dated 18/10/1428H; and the Security Safety Guidelines issued by SAMA, No. 485/M.A/36, dated 7/1/1416 H. These instructions should be considered the minimum security and safety measures that must be followed, and must include at least the following:

  1. Adhering to the security safety requirements issued by SAMA, including:
  a.. Standards for site selection, environmental health, and civil defense requirements.
  b. Procedures for transporting cash.
  c. Instructions for the work of security guards.
  d. Providing the necessary requirements for automated systems, banking devices, recording devices, and document storage.
  1. Displaying the license issued by SAMA and announcing the exchange rates prominently at the location.
  2. Including the license number in all printed materials, correspondence, and any other outputs.
  3. Handling transactions with clients using official receipts for all allowed exchange operations.
  4. Informing clients prominently about the necessity of obtaining receipts for any transaction performed.
  5. Equipping work areas with the necessary devices for counting, sorting cash, and detecting counterfeit currency.
  6. Insuring property against fire and theft with a licensed insurance provider in the Kingdom.