Regulatory Alerts2018-04-05
Optional Adherence by Financing Companies to Certain Articles When Dealing with Small, Medium, and Large Enterprises
The Saudi Central Bank issued this circular to permit financing companies operating in the Kingdom to optionally comply with Articles 78, 79, 81, 82, 83, and 84 of the Executive Regulations of the Financing Companies Control System when transacting with small, medium, and large enterprises. The directive clarifies that the applicable definitions for these enterprise categories align with those established by the General Authority for Small and Medium Enterprises (Monsha'at) in Decision No. (2-1-1438) dated 14/03/1438H. This regulatory flexibility aims to foster legitimate competition and operational fairness within the financing sector while maintaining overall market stability.
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