Based on the provisions of paragraph (a) of Article 15 of the regulations governing the practice of currency exchange operations 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 the Central Bank with all the data it requests at any time, and paragraph (c) of the same article, which grants the Central Bank the authority to issue any instructions it deems necessary to implement supervisory and regulatory requirements for currency exchange operations. Furthermore, Article 17 states that every exchange institution must maintain regular accounting records documenting its transactions in accordance with the requirements set by the Central Bank and must follow the accounting standards specified when preparing its financial statements. The exchange institution must also provide the Central Bank with the financial data mentioned in the article, and the Central Bank may request any other information or data it deems necessary to verify the soundness of its operations and compliance with these regulations.

Therefore, you are hereby informed that all exchange institutions must submit monthly data to the Central Bank 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 6 of the regulations governing the practice of currency exchange activities regarding data and reports.