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Article 2

No: M/81 Date(g): 29/10/2007 | Date(h): 18/10/1428

Effective from 2008-02-13 - Feb 12 2008
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  1. This Law shall apply to the following:

     a) Financial institutions and companies such as banks, currency exchange businesses, or investment or insurance institutions and companies operating in the Kingdom the work of which requires the transport of money, precious metals, and negotiable instruments.

     b) Precious metal factories, showrooms, and retail outlets in the Kingdom, with respect to transporting precious metals.

     c) Saudi establishments and companies licensed to provide private security services when transporting money, precious metals, and negotiable instruments.

  2. Issuing licenses for the transport of money, precious metals, and negotiable instruments shall be restricted to the entities referred to in paragraph (1) of this Article, provided that the entities referred to in subparagraphs (a) and (b) of said paragraph have departments designated for security.