Alqanoni

Article 11: License

Art. 11
Status unknownSaudi ArabiaRegulation

Issued by Saudi Central Bank (SAMA) Rulebook

1. The bank may take the necessary actions to ensure that the finance support company meets the bank’s requirements, such as making supervisory or inspection visits to the company headquarters, meeting its executives and reviewing its systems, procedures and records. 2. Upon verification of the applicant compliance with the requirements set forth herein, the bank shall issue the license for finance support activities. 3. The finance support company shall not engage in any activity not licensed by the bank.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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