The Saudi Arabian Monetary Authority (SAMA) has suspended on Monday three currency exchange companies for failing to comply with regulatory requirements.

 

The Kingdom’s central bank suspended Mohammed Mounir Halawani Sons for Exchange, Abdulaziz Abdullah Al-Zamil and Sons, and Said Mohammed Ali Al-Amoudi and Partners Company.

 

In a statement, SAMA said the suspension, which will also apply to money transfer services, would be lifted when firms amend their situations.

 

The central bank will impose additional measures if the three companies fail to adhere to regulatory requirements, the statement added.

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