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Article 2

No: M/81 Date(g): 29/10/2007 | Date(h): 18/10/1428 Status: In-Force

Translated Document

  1. The provisions of this Law shall apply to the following:

     a) Financial institutions and companies operating in the kingdom such as banks, currency exchange businesses, or investment or insurance institutions and companies whose nature of work requires the transport of cash, precious metals, and valuable documents.

     b) Precious metal factories, showrooms, and retail outlets in the Kingdom, with respect to transporting precious metals.

     c) Saudi establishments and companies licensed to provide private security services when transporting cash, precious metals, and valuable documents.

  2.  The transport of money, precious metals and valuable documents may only be licensed to the entities referred to in paragraph (1) of this Article, provided that a special security department is available in the entities mentioned in paragraphs (a) and (b) of the aforementioned paragraph.