GDBC-161000000254-1416H
No: GDBC-161000000254-1416H |
Effective from 1995-10-15 - Oct 14 1995
To view other versions open the versions tab on the right
Deputy Governor
No. 6497/BCL/254
Date: 21/5/1416 H
Circular to All Banks Operating in The Kingdom
Greetings,
Re SAMA circular sent to you on 27/3/1416 H, regarding the consolidation of your current accounts with SAMA in one single account with the head office; and whereas paragraphs (5) and (6) of said circular provided that your cash withdrawals and deposits of collected government revenues should be handled through checks drawn on the consolidated account;
We wish to inform you that SAMA has no objection that you print magnetized checks for your consolidated account, if you so desire, provided prior approval by SAMA is obtained and the use of such checks is limited to your withdrawals from and payments to SAMA and government agencies.
Please be informed and act accordingly.
Regards,
Deputy Governor
J. A. Al-Suhaimi