Privacy Policy

Our Commitment to Protecting Your Privacy

Mohammed Barki Al-Lahibi & Partners Exchange Company is committed to protecting the privacy of its customers. This Privacy Protection Policy, approved by the General Manager (“Privacy Policy”), applies to all personal, financial, and occupational information collected by us or provided by you for the purpose of creating a customer profile and opening a membership to conduct foreign currency and Saudi Riyal buying and selling transactions with us.

What Personal, Financial, and Occupational Information Do We Collect?

“Personal Information” refers to information that identifies you as an individual, or as the owner of a company or sole proprietorship, and includes but is not limited to:

  • Full name as stated in the National ID, Iqama, or Commercial Registration

  • Nationality

  • Date of birth

  • Place of birth

  • National ID / Iqama / Commercial Registration number

  • Expiry date of National ID / Iqama / Commercial Registration

  • Place of issuance

  • National and postal address

  • Phone number (including mobile and landline numbers)

  • Email address (if available)

  • Employer name

  • Occupation / Job title

  • Military rank / job grade (for government employees)

  • Source of income

  • Monthly income

  • Additional income

  • Purpose of establishing the relationship

  • Beneficial owner of the membership or exchange transactions

  • IBAN number and local bank name in case of transferring funds to the exchange company for currency conversion

All the above information is collected by tellers or customer service representatives when you conduct any financial transactions or open a customer file/membership to establish a business relationship with us.

How Do We Collect Personal, Financial, and Occupational Information?

We collect personal, financial, and occupational information through direct interviews at the exchange company’s premises when opening a customer file or membership for buying and selling foreign currencies and Saudi Riyals.

Why Do We Collect Your Personal, Financial, and Occupational Information?

Based on regulatory requirements stipulated in:

  • Royal Decree No. M/20 dated 04/02/1439H regarding the Anti-Money Laundering Law

  • The Implementing Regulations issued by the Presidency of State Security Resolution No. 14525 dated 19/02/1439H

  • The Law on Combating Terrorism Crimes and Financing issued by Royal Decree No. M/21 dated 12/02/1439H

  • The Implementing Regulations of the Law on Combating Terrorism Financing issued by Council of Ministers Resolution No. 228 dated 02/05/1440H

  • The Anti-Money Laundering and Counter-Terrorist Financing Rules issued by the Saudi Central Bank (Third Update – November 2019)

These regulations require verifying customer information prior to initiating a business relationship, applying due diligence (standard or enhanced), and assessing potential money laundering and terrorist financing risks. Accordingly, we collect, evaluate, update, and maintain your personal, financial, and occupational information on an ongoing basis.

How Do We Use Personal, Financial, and Occupational Information?

We may use your information to:

  • Execute your financial transactions related to buying and selling foreign currencies

  • Respond to your inquiries, fulfill your requests, and handle complaints

  • Send administrative communications, such as updates to our terms, conditions, or policies

  • Fulfill regulatory requirements under Anti-Money Laundering and Counter-Terrorist Financing laws

  • Develop new products, improve our services, and measure customer satisfaction

As deemed necessary and appropriate:

  • (a) To comply with legal requirements, regulatory obligations, and applicable standards, including local and international sanctions regimes

  • (b) To respond to requests from supervisory authorities such as the Saudi Central Bank and law enforcement agencies

Your personal, financial, and occupational data will be processed exclusively within the Kingdom of Saudi Arabia, primarily for verification purposes, due diligence application, and execution of currency exchange transactions.

Your data may be accessed by the operator of the exchange system used by the Company; however, such parties are bound by Personal Data Protection regulations. No personal, financial, occupational, or transactional data shall be transferred, copied, sent, or stored by any third party without prior approval from the Saudi Central Bank.

Your information is processed in full compliance with applicable data protection and privacy regulations. If you wish to obtain a copy of your personal data held by us, please contact us at 8004420018 to complete the relevant request form.

In accordance with regulatory requirements, we will periodically contact you to update your information through the KYC Update Form.

Security

We apply reasonable administrative, technical, and organizational measures to protect the personal, financial, and occupational information in our possession.

If you believe that the security of your membership has been compromised or that your personal, financial, occupational, or transactional data has been breached, please notify us immediately by contacting 8004420018.

Data Retention Period

In accordance with Article 13 of the Anti-Money Laundering Law, personal, financial, and occupational information, as well as transaction records, will be retained for a period of no less than ten (10) years after the end of the business relationship.

Sensitive Information

We do not request any sensitive personal data, including but not limited to information relating to ethnic or tribal origin, political opinions, religious beliefs, health or medical status, or criminal records.

Updates to the Privacy Policy

We may update or amend this Privacy Policy from time to time. You will be notified of any changes and may be required to provide consent to such updates.

Contact Us

If you have any questions or inquiries regarding this Privacy Policy, please contact us at 8004420018.

Customer Consent

By dealing with Mohammed Barki Al-Lahibi & Partners Exchange Company, you acknowledge and consent to the processing of your personal, financial, and occupational data in accordance with this Privacy Policy and all the provisions stated above.