Alqanoni

Article 6: Paid-Up Capital

Art. 6
Status unknownSaudi ArabiaRegulation

Issued by Saudi Central Bank (SAMA) Rulebook

1. Pursuant to the provisions of the Companies Law , the minimum capital for the finance support company shall be as follows: (a) (SAR 2,000,000) for aggregation activity. (b) The bank shall set the minimum capital for the finance support company that engages in other support activities approved by the bank. 2. The bank may stipulate higher or lower minimum capital based on the prevailing market conditions, or if it deems that the proposed business model or the nature of activities or the proposed geographical scope requires so, taking into consideration the risk profile of the activity.

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

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