The Saudi Arabian Monetary Authority (SAMA) announced in a decision that it has lifted the suspension and permitted a number of currency exchange companies and institutions to resume their business activities, following the companies« fulfillment of the technical requirements for compliance with regulatory and supervisory controls, while at the same time reiterating its decision to place Mohammed Hassan Bitar & Sons Exchange Company under enhanced monitoring until it verifies the company’s effective implementation of all relevant regulatory and supervisory controls.

The decision included Mohammed Hassan Bitar & Sons Exchange Company, Salah Al-Din Kaaki Exchange Institution, and Lavi Awad Al-Harbi Exchange Institution, allowing these companies and institutions to resume operations effective 04 / 12/1439 AH, corresponding to August 15, 2018.

The Saudi Arabian Monetary Authority (SAMA) had issued a decision on 23/ 08/1439 AH, corresponding to 09/05/2018 AD, suspending the currency exchange activities of a number of currency exchange companies and institutions on a temporary basis, due to their failure to comply with the regulations governing the practice of this activity.