Adherence with the Regulations and Instructions Related to the Movement of Money and the Security Safety Manual
| No: 361000156181 | Date(g): 8/10/2015 | Date(h): 25/12/1436 | Status: In-Force |
Translated Document
Following SAMA's circular No. 15475/M A T/306 dated 12/04/1428H regarding the regulation of cash transportation movement for local banks and money exchangers, and SAMA's circular No. 49302/M A T/940 dated 22/12/1428H, which includes the regulations for the transportation of cash and precious metals issued by Royal Decision No. M/81 dated 18/10/1428H, as well as SAMA's circular No. 3202/M A T/52 dated 03/02/1424H, which includes the security safety guidelines.
Whereas SAMA has observed a lack of compliance by some exchange companies and institutions with the regulations and instructions issued regarding the movement of funds and the aforementioned security safety guidelines, SAMA emphasizes the necessity of adhering to these regulations and instructions. Those found to be transporting funds in an irregular manner or receiving cash amounts transported irregularly from other exchange companies and institutions will be subject to the legal penalties stipulated in the Banking Control Law issued by Royal Decree No. M/5 dated 22/02/1386H.