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Effective from 2019-11-17 - Nov 16 2019 To view other versions open the versions tab on the right
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Article (24) of the Anti-Money Laundering Law stipulates that “To carry out their mandate, supervisory authorities shall: (d) issue guidance, instructions, rules or any other instruments to financial institutions, designated non-financial businesses or professions, and non-profit organizations in pursuance of the provisions of this Law.”
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Article (82) of the Implementing Regulations of the Law on Combating Terrorism Crimes and Financing stipulates that “To carry out their mandate, supervisory authorities shall: (4) issue instructions, rules, guidance, or any other instruments to financial institutions, designated non-financial businesses or professions, and non-profit organizations in implementation of the provisions of this Law.”
Supreme Royal Order No. (55871) dated 09/11/1436H providing for the approval for making King Salman Humanitarian Aid and Relief Center as the sole authority to collect relief, charitable or humanitarian donations, whether from government or private sources, to deliver them to those in need outside the country.
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The Council of Ministers Resolution No. (226) dated 02/05/1440H states that Saudi Central Bank is the competent authority by law to operate, monitor and supervise payment and financial settlement systems and their services in Saudi Arabia. It may issue rules, instructions and licenses in accordance with the standards applied by Saudi Central Bank in this regard.
