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Contract with Cash Transfer Companies and Using High-Specification Security Bags

No: 381000101035 Date(g): 3/7/2017 | Date(h): 9/10/1438 Status: In-Force

Translated Document

Referring to the letter from His Royal Highness the Crown Prince, Deputy Prime Minister, and Minister of Interior, "may God protect him," No. 225703 dated 28/08/1438 H, regarding the recommendations from the Crime Research Center to require large companies and commercial establishments to contract with cash transfer companies and to use high-specification security bags, and to SAMA Circular No. 371000093183 dated 22/08/1437 H based on the letter from His Royal Highness the Crown Prince, Deputy Prime Minister, and Minister of Interior, "may God protect him," No. 126563 dated 14/05/1437 H, regarding the approval of the results of the security committee formed by the General Security, the Ministry of Finance, and SAMA to review and update the necessary standards and conditions and impose strict and precise controls for conducting the activity of transporting cash, precious metals, and valuable documents to require all companies operating in this field to comply with them. This includes the adoption of using containers for transporting cash, which enable automated tracking and self-destruction of cash if diverted from the proposed route, instead of the current fabric containers.

Therefore, compliance with the instructions mentioned above is required, and cash should only be transported for large companies and commercial establishments through licensed cash transfer companies, using security bags approved by SAMA. Please note that SAMA will conduct field visits to ensure the implementation of these recommendations and impose penalties against violators.