Based on the powers granted to the Saudi Central Bank under its system issued by Royal Decree No. (M/36) dated 11/04/1442 H, and the regulations governing the practice of money exchange issued by Ministerial Decision No. (4686) dated 21/11/1441 H, and with reference to paragraph (B) of Article (Fourteen) and paragraph (B) of Article (Twenty-One) of the regulations governing the practice of money exchange, and in accordance with the requirements for appointing leadership positions in financial institutions under the supervision and oversight of the Saudi Central Bank, and the principles of conduct and work ethics in financial institutions issued by the Saudi Central Bank:

Given the observations that some exchange center employees have been holding two positions simultaneously at more than one exchange center, in addition to non-compliance with the Central Bank's instructions regarding job localization, exchange centers are required to adhere to the following:

Firstly: Employees of exchange centers must not hold two positions simultaneously at more than one exchange center. Exchange centers must ensure compliance with this requirement and take necessary corrective actions within a period not exceeding six months from the date of this notice and inform the Central Bank accordingly.

Secondly: Adhere to Central Bank Circular No. (21755/41) dated 06/04/1440 H, which restricts all operational roles to Saudi nationals, and refrain from applying to any other entity for permits to employ non-Saudis.

Please review and act in accordance with this notice from the date of issuance. Exchange centers are required to take the necessary regulatory actions to implement and comply with the provisions of this circular.