Regulatory Alerts2024-04-15
Quarterly Reporting to SAMA on Risks, Financial Statements, Auditor's Report, and Prudential Data; Publication of the Board of Directors' Report and Financial Statements on the Company's Website
The Saudi Central Bank (SAMA) issued a circular mandating deferred payment companies to submit quarterly risk reports, financial statements, auditor's reports, and prudential data according to specified deadlines. The directive requires these entities to publish their Board of Directors' Report and audited financial statements on their official websites within ten working days of submission deadlines, while ensuring all prudential data forms are electronically submitted in Excel format and certified by senior management. Furthermore, annual prudential data must be externally audited and delivered within sixty working days, with quarterly submissions due within twenty-five working days.
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