SAMA has decided to suspend Lafi Auwad Alharbi Money Exchange Company from practicing money changing business until it rectifies the status of its business and obtains SAMA's approval for recommencement of its money changing business. This decision was made due to the company's non-compliance with the regulatory and supervisory requirements issued by SAMA pursuant to the 'Rules Governing Money Changing Business' issued by the Minister of Finance's Decision No. (1357) dated 01/05/1432H, despite having already received several warnings from SAMA requesting the company 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 In addition, SAMA affirms that the suspension will not be rescinded unless it is proven that the company has rectified its status and fully complied with regulatory and supervisory requirements—and, if the company does not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.