SAMA Grants License to Bawabat Al-Umulat Exchange for Foreign Currency Trading

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