General Regulatory Authority for Financial Supervision Council Decision No. 163 of 2018 dated October 31, 2018

General Regulatory Authority for Financial Supervision Council Decision No. (163) of 2018 dated October 31, 2018 1 Last amended on June 6, 2021 Regarding the executive regulations concerning design firms in accordance with

General Regulatory Authority for Financial Supervision Council of Directors HAS DECIDED:

(Article One)
Design Fees

The decision was amended by Council Decision No. 197 dated December 31, 2018, and Council Decision No. 95 dated August 4, 2019, and Council Decision No. 25 dated February 28, 2021, and Council Decision No. 84 dated June 6, 2021.

(Article Two)
Services provided by the designer to sellers of financial rights 2 (Article Three) Requirements in the debtor

(Article Four)
Disclosure of financial rights

2
Article Three was replaced by Council Decision No. 25 dated February 28, 2021.

(Article Four Bis)
Obligations and requirements for design firms operating in financing financial rights arising from trade receivables

3
Article Four Bis was added by Council Decision No. 25 dated February 28, 2021.

(Article Five)
Assignment of rights, notification methods, and mandatory notification forms

(Article Six)
Requirements in the seller of financial rights to the designer

:
(Article Seven)
Contractual design

5 (Article Seven Bis)
Design compliant with Sharia provisions

(Article Eight)
Insurance against non-payment risks

4
Item 3 was amended by Council Decision No. 197 dated December 31, 2018, and subsequently replaced by Council Decision No. 84 dated June 6, 2021.

5 Article Seven Bis was added by Council Decision No. 95 dated August 4, 2019.

(Article Nine)
Sale of the portfolio of financial rights

(Article Ten)
(Article Eleven)