Article 14: Revocation of License
Art. 14Status unknownSaudi ArabiaRegulation
Issued by Saudi Central Bank (SAMA) Rulebook
SAMA may revoke the license in any of the following cases: 1- Upon a written cancellation request submitted by the Debt-Based Crowdfunding Company, taking into account the rights of the Participants and Institutional Beneficiaries as well as the soundness of the financial system. 2- If it is proved that the Debt-Based Crowdfunding Company has provided SAMA with false information or failed to disclose material information that should have been provided for licensing purposes.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded