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SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
The Money Changer licensed to engage in the activity of currency import and export shall develop regulatory policies and procedures for importing and exporting the currencies, provided that such procedures include, at a minimum, the following:
a.
Notifying customs officers at border crossings of the imported and exported amounts of money.
b.
Maintaining documents of currency import and export.
c.
Preparing funds for their transfer properly.
d.
Complying with all the instructions issued by SAMA regarding currency import and export, including not dealing with the entities specified by SAMA.
