VOL. XLV

No 46

18-November-2002

SAUDI ARABIA

SAMA Tightens Regulations For Bank Dealings In Saudi Arabia

The Saudi Arabian Monetary Agency (SAMA) has issued a new circular to all commercial banks in the kingdom instructing them to apply stricter rules in dealing with individual or corporate clients. Commenting on the circular, a number of Saudi bankers told the Saudi daily Arab News of 12 November that there was nothing new in the measures taken by SAMA to prevent money laundering and other...