Regulatory Alerts2024-10-17
Approval of the Amendment to the Rules for Engaging in Debt-Based Crowdfunding
The Saudi Central Bank has approved an amendment to the rules governing debt-based crowdfunding, requiring licensed companies to align their operations with the updated provisions within 90 days of publication on the Bank’s website. This directive, issued under Governor Decision number 162 dated 27 March 1437 AH, mandates compliance based on the authorities granted by the Central Bank’s founding system and the Financing Companies Monitoring System. Licensed debt-based crowdfunding entities must implement these adjustments promptly to maintain their regulatory standing and operational compliance.
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