a view of a city: Saudi Arabia


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Saudi Arabia

Cairo: Saudi authorities have approved a set of new rules for the operation of foreign exchange offices in the kingdom as part of efforts to fight money laundering and terror financing and protect customers’ rights, according to Okaz newspaper.

The rules include a ban on the forex business without a licence from the kingdom’s central bank, the Saudi Arabian Monetary Authority (SAMA). The licence is valid for five years and should be renewed six months before its expiry.

According to the new regulations that will take