Based on paragraph (c) 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 grants the Central Bank the authority to issue any instructions deemed necessary to implement supervisory and regulatory requirements for currency exchange operations.

In line with the Central Bank’s continuous efforts to develop the currency exchange sector in the Kingdom and update certain procedures related to the operations of exchange institutions and companies, the Central Bank wishes to emphasize full compliance with the provisions of the regulations governing the practice of currency exchange operations, as well as all related laws and instructions, and adherence to the following:

1. Retention of CCTV surveillance recordings for a minimum of one year (12 months).
2. Allowing customers (account holders), after verifying the necessary legal documents, to obtain account statements detailing executed transactions upon request.
3. Retaining all documents and records related to customer transactions (whether originals or copies) in a secure place for at least ten years from the date of the transaction, with electronic archiving for easy access when needed.
4. Recording the residential or national address upon establishing the relationship.
5. Prohibiting the deletion of any transaction or account, ensuring that all details remain accessible through the automated system.
6. Establishing business continuity plans and ensuring the readiness of backup sites (Disaster Recovery), with periodic effectiveness testing to ensure the plan can be executed without difficulties, to maintain efficient and effective operations.

The Central Bank emphasizes that exchange companies and institutions must immediately begin taking the necessary measures to ensure full compliance with the provisions of this circular within four months. The Central Bank will take all legal actions against non-compliant exchange companies and institutions that fail to meet the requirements outlined in this circular.