Regulatory Alerts2022-10-27
Preparing a quarterly risk report, providing it to the Central Bank, as well as the annual and quarterly audited financial statements and prudential statements, and publishing the reports, quarterly financial statements and annual audited financial statements on the company's website
The Saudi Central Bank mandates debt crowdfunding establishments to prepare and submit quarterly risk reports, audited financial statements, and prudential data within specified working-day deadlines following each quarter or fiscal year. These entities must also ensure senior management and board review, obtain external auditor certifications for annual prudential forms, and publish the reports and financial statements on their official websites within ten working days of submission deadlines. Compliance requires maintaining comprehensive risk assessments, adhering to prescribed disclosure criteria, and submitting all documents electronically in Excel format alongside signed certification statements.
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