SAMA would like to announce that it has decided to suspend Eid Mana'a AL-Ofi Sons & Partners Co. from practicing money changing business until it rectifies the status of its business and obtains SAMA's approval for recommencement of money changing business. This decision was made due to the aforementioned Company not complying with regulatory and supervisory requirements issued by SAMA pursuant to the 'Rules Governing Money Changing Business' issued by Minister of Finance's Decision No. (1357) dated 01/05/1432H, coupled with its noncompliance with measures issued by SAMA—which were communicated to financial institutions pursuant to the 'Rules Governing Anti-Money Laundering and Combating Terrorist Financing'—despite having already received several warnings from SAMA, requesting it to rectify its status. In addition, SAMA affirms that the suspension will not be rescinded unless it is proven that the Company has rectified its status and complied fully with regulatory and supervisory requirements, including implementation of measures and instructions related to anti-money laundering and combating terrorist financing—and, if the Company does not rectify its status, SAMA will undertake further regulatory measures. This decision comes as part of SAMA's keen interest in ensuring that all financial institutions implement all regulatory requirements.