In reference to Central Bank Circular No. 15475/M AT/306 dated 12/04/1428 AH, regarding the necessary actions for the General Authority of Customs to begin implementing the procedures outlined in the disclosure guide for cash and precious metals upon departure and arrival from and to the Kingdom, in accordance with Article (14) of the Anti-Money Laundering Law issued by Royal Decree No. M/39 dated 25/06/1424 AH, and the requirements outlined by the Central Bank regarding the regulation of the process for licensed banks and exchange dealers to transport cash in and out of the Kingdom generally through border crossings. Also referring to Central Bank Circular No. 341000074807 dated 15/06/1434 AH regarding amendments to the Anti-Money Laundering Law issued by Royal Decree No. M/31 dated 11/05/1433 AH and its executive regulations.

The Central Bank wishes to confirm the regulatory requirements included in the aforementioned circular. We inform you that there has been an amendment to Article Fourteen of the Anti-Money Laundering Law issued by Royal Decree No. M/39 dated 25/06/1424 AH, changing its number to Sixteen in the amended Anti-Money Laundering Law issued by Royal Decree No. M/31 dated 11/05/1433 AH. A paragraph regarding "negotiable financial instruments" has been added, and the term "disclosure" has been replaced with "declaration." Therefore, we hope you will comply and take the necessary actions to align internal instructions and procedures with the amendments included in Article Sixteen of the Anti-Money Laundering Law and its executive regulations.