Skip to main content
Custom print
Download Original PDF

Article 10: Cancellation of Approval and Non-Commencement of Money Changing Business

No: 4686 Date(g): 11/7/2020 | Date(h): 21/11/1441

Effective from 2020-10-10 - Oct 09 2020
To view other versions open the versions tab on the right

a.SAMA’s approval shall be deemed cancelled in the event of non-completion of application procedures and not obtaining the license within six months from the date of the approval. SAMA may extend this period.
 
b.SAMA’s license shall be deemed cancelled if the Money Changer fails to commence its business within three months from the date of license issuance. SAMA may extend this period.
 
c.The fees collected are non-refundable in case the license was revoked.