Banking Control Law
Art. 2Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
Any natural or legal person not licensed under this Law may not primarily
engage in any banking business in the Kingdom; however:
a) legal persons licensed under another law or special decree to engage in
banking business may do so within the scope of their intended purposes;
and
b) licensed money changers may primarily engage in the currency exchange
business, whether in the form of notes or coins, and may not engage in any
other banking business.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded