Regulatory Alerts2011-01-01
Board of Directors Decision No. (1) of 2011 (Updated Version in 2011)
The Chairman of the Board of Directors of the General Authority for Financial Control has issued this directive to amend and replace Article One of Decision No. (1) of 2011. The updated provision establishes revised rules for calculating the maximum allowable limit of the liabilities-to-equity ratio specifically for financial leasing companies. These regulatory changes were enacted pursuant to the Authority's Board of Directors Decision No. 45 dated June 15, 2011.
Board of Directors Decision of the Authority No. (1) of 2011 dated 2011/1/24 Regarding the rules for calculating the maximum limit of the liabilities to equity ratio for financial leasing companies, last amended on pursuant to 2011/6/15 Chairman of the Board of Directors of the General Authority for Financial Control
DECIDES
(Article One) 2
- The Decision has been amended pursuant to the Authority's Board of Directors Decision No. 45 dated 2011/6/15.
- The text of Article One has been replaced pursuant to the Authority's Board of Directors Decision No. 45 dated 2011/6/15.
(Article Two) (Article Three)