The local banks have recently refused to accept deposit cash from exchange companies, which confused the latter as to how to dispose of the collected cash at a time when the banks have become strict in depositing cash in their banking system from these companies prompting the escalation of a dispute in particular with the regulatory authorities.
Informed sources told Al-Rai the exchange companies were surprised at their inability to deposit cash, and upon inquiry with the concerned parties in the bank, it was found that receiving any cash from exchange companies was forbidden, as part of the precautionary measures taken against money laundering operations and financing of terrorism.
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