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Prohibition on Dealing with Representatives of Private Security Companies and Cash Transport Companies that are non-Saudis

No: 381000026439 Date(g): 7/12/2016 | Date(h): 8/3/1438 Status: In-Force

Translated Document

Due to the availability of information regarding certain representatives of private security companies and cash transport companies from non-Saudis negotiating with local banks when seeking to provide security services or cash transport.

SAMA emphasizes to all banks the importance of not engaging or negotiating with any non-Saudi representative of these companies and institutions. They must also inform the relevant authority in the region about the company or institution employing the non-Saudi representative to take the necessary legal actions against them. Furthermore, SAMA reiterates the importance of full compliance with its issued directives regarding compliance with The Law of Private Security Services and its Implementing Regulations, as well as The Law of Transporting Cash, Precious Metals, and Valuable Documents and its Implementing Regulations.