Skip to main content

Circular to Money Transfer to Provide Point of Sale (POS) Services to Customers

No: 44016668 Date(g): 25/9/2022 | Date(h): 29/2/1444 Status: In-Force

Translated Document


Based on Paragraph (B) of Article Fourteen of the rules regulating money changing business by Ministerial Decision No. (4686) dated 21/11/1441 H, and in line with SAMA's ongoing efforts to develop the money exchange sector in the Kingdom, a standardized pricing model has been developed for point-of-sale (POS) services for transactions made via Mada cards at money changers.

We would like to emphasize that all money changers must provide point-of-sale (POS) services and activate it as of its date for the benefit of customers. Failure to comply with and adhere to these regulations and instructions will result in SAMA implementing statutory penalties.