Regulatory Alerts2022-10-27
Providing SAMA with the Semi-Annual Report on Risks, Prudential Data, and Publishing Quarterly Reports and Audited Annual Financial Statements on the Company's Website
SAMA mandates microfinance companies in the Kingdom to submit semi-annual risk reports and quarterly or annual prudential data forms within 25 to 60 working days, respectively. These submissions must be delivered electronically in Excel format alongside signed certification statements from the Chief Accountant, CFO, and CEO or Managing Director, with annual forms additionally requiring an external auditor's review and signed audit certificate. Furthermore, companies must publish their quarterly reports and audited annual financial statements on their official websites within 10 working days of the statutory submission deadlines.
Share