Based on the provisions of paragraph (a) of Article 15 of The rules governing money changing business issued by the Minister of Finance's Resolution No. 1357 dated 01/05/1432H, which stipulates that anyone licensed to practice currency exchange must provide SAMA with all the data it requests at any time, and paragraph (c) of the same article, which grants SAMA the authority to issue any instructions it deems necessary to implement supervisory and regulatory requirements for currency exchange transactions. Furthermore, Article 17 states that every exchange institution must maintain regular accounting records documenting its transactions in accordance with the requirements set by SAMA and must follow the accounting standards specified when preparing its financial statements. The exchange institution must also provide SAMA with the financial data mentioned in the article, and SAMA may request any other information or data it deems necessary to verify the soundness of its transactions and compliance with these regulations.

Therefore, you are hereby informed that all exchange institutions must submit monthly data to SAMA regarding the movement of cash inflows and outflows to and from the Kingdom through border crossings (land, air, and sea), in accordance with the attached statement.

Company/Institution: .............................. (Currency Exchange License No.: ........./S)

Statement of Cash Inflows and Outflows Through the Border Crossings in the Kingdom
 

Please review Section Six of the regulations governing the practice of currency exchange activities regarding data and reports.