Finance Companies Control law
Art. 16Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
A finance company board member shall not:
1. be a board member in another finance company;
2. combine the duty of monitoring finance companies or auditing their accounts with membership
in board of directors in the same company;
3. have been dismissed, as a disciplinary action, from a senior executive position in a finance
institution;
4. have been previously declared bankrupt.
5. have been convicted of a crime impinging on integrity, unless rehabilitated in accordance with
law or as specified under the Regulations.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded