Central Bank directives for exchange centers during Hajj and Ramadan
The Saudi Central Bank (SAMA) has issued a set of strict directives and instructions to exchange bureaus operating in the holy cities and major entry points, specifically in Mecca, Medina, King Abdulaziz International Airport, and the Hajj Terminal in Jeddah. These directives aim to enhance operational readiness and ensure early preparation for providing safe and reliable financial services to pilgrims during Ramadan and Hajj seasons, guaranteeing the smooth flow of financial transactions and the availability of necessary cash liquidity.
These proactive steps come within the framework of the Kingdom of Saudi Arabia's ongoing efforts to enhance the experience of Umrah and Hajj pilgrims, in line with the objectives of Vision 2030 and the "Serving the Guests of God" program. The two seasons witness a large influx of visitors from around the world, necessitating a robust financial infrastructure capable of accommodating the increased demand for the local currency (Saudi Riyal) and foreign currency exchange, ensuring the smooth flow of visitors' interests and facilitating their purchases and travel.
The Central Bank circular emphasized the necessity of providing modern and advanced cash counting and sorting machines with high accuracy in detecting counterfeit currency, in order to protect the financial system and consumers from fraud. The directives also mandated that licensed entities immediately report to the relevant security authorities and inform the Central Bank of any instances of currency exchange transactions conducted through unauthorized or suspicious channels, in order to curb the black market and illicit transactions that could harm the national economy.
To enhance security and transparency, the instructions included ensuring the effectiveness of surveillance cameras and security storage units, as well as requiring centers to provide point-of-sale (POS) devices and clearly display electronic payment options on prominent signs, thus offering customers multiple payment choices. Emphasis was also placed on the necessity of updating currency exchange rate displays and linking them directly to the system, and displaying price lists in prominent locations to prevent price manipulation.
On the operational level, SAMA directed that exchange centers operate at full capacity and activate all service windows to minimize waiting times, while ensuring an adequate supply of cash in all denominations of the Saudi Riyal. The directives also included measures to manage crowds by providing designated pathways, waiting chairs, and assigning staff to regulate customer flow and prevent overcrowding inside and outside the branches, particularly during peak hours, holidays, and the anniversary of the Kingdom's founding.
