KSA, 25 November, 2024 : The Saudi Central Bank (SAMA) has granted a license to Bawabat Al-Umulat Exchange to conduct the purchase, sale, and trading of foreign currencies in Saudi Arabia. This brings the total number of licensed money exchangers in the country to 65.
The move reflects SAMA's ongoing efforts to support the money exchange industry, enhance the efficiency of financial transactions, and promote financial inclusion. SAMA continues to emphasize the importance of engaging only with authorized financial institutions. For a list of licensed institutions, visit SAMA’s official website.
Source : www.sama.gov.sa
Related Posts
Real estate has long been one of the most attractive sectors for criminals seeking to disguise illic...
Read More
For years, regulatory enforcement in AML followed a familiar pattern. A bank was found to have weak ...
Read More
For many Corporate Service Providers, customer due diligence is often viewed as the most important s...
Read More