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| 25 September, 2017

Saudi central bank suspends three currency exchange houses

Image for illustrative purposes.
A currency exchange trader counts money.

Image for illustrative purposes. A currency exchange trader counts money.

REUTERS/Faisal Mahmood
DUBAI - Saudi Arabia's central bank said on Monday it had suspended three currency exchange houses - Halawani Bros, Al Amoudi and Al Zamil - for not complying with market rules.

The Saudi Arabian Monetary Authority (SAMA) said the suspension will also apply to money transfers and will be lifted when the three houses comply with regulations.

The three privately-held companies largely provide the ten million expat workers in Saudi Arabia for money transfers and currency exchange.

(Reporting By Aziz El Yaakoubi and Celine Aswad; Editing by Toby Chopra) ((aziz.elyaakoubi@thomsonreuters.com; +971552994086)(;))
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