Article 5: Responsibility
Effective from 2020-08-25 - Jun 29 2021
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| The Money Changer’s management shall be responsible to ensure compliance with these Rules. The management of each Money Changer shall be responsible for approving policies, procedures and processes which ensure the following: | ||
| a. | Adherence to the laws, SAMA’s AML, CTF, and fraud and embezzlement instructions as well as information security requirements. | |
| b. | Identifying, documenting and addressing risks associated with the Money Changer and developing and implementing adequate risk management policies that are consistent with rules and instructions issued by SAMA. | |
| c. | Compliance with the instructions issued by SAMA. | |