Regulatory Alerts2017-03-14
Definition of Small and Medium Enterprises
The Saudi Central Bank issued this circular to formally adopt the General Authority for Small and Medium Enterprises (GASME) definition of micro, small, medium, and large enterprises operating in the Kingdom. The regulation establishes classification criteria based on annual revenues in Saudi riyals and full-time employee counts, mandating that revenue be the primary metric while allowing employee count to serve as a fallback for new enterprises. This definition takes immediate effect and applies to all banks, financing companies, credit information agencies (SIMAH and Bayan), and supervision departments under the regulator's jurisdiction.
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