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

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Reference No.: 44028129
Date: 1444/04/02
Attachments: None

Circular

Dear Sir/Madam,
Peace, mercy, and blessings of God be upon you,

Subject: 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.

Based on the authorities granted to SAMA under relevant regulations and instructions; we wish to inform that microfinance companies must comply with the following:

First: Providing SAMA with the Semi-Annual Risk Report referred to in Article (Thirty-Six) of the Microfinance Companies Regulations, after discussion by the Risk and Credit Management Committee (if any) and the Board of Directors, and its approval, including decisions taken regarding it within (30) working days from the end of each of June and December of every Gregorian year.

Second: Completing all required data in the annual and quarterly prudential data forms referred to in Article (Fourteen) of the Microfinance Companies Regulations, according to the attached approved forms, verifying all data, and providing SAMA with them within (25) working days from the end of each of March, June, September, and December for quarterly prudential data forms, and within (60) working days from the end of the Gregorian year for annual prudential data forms.

Third: The prudential data forms are sent electronically in (Excel) format after completion as required, within the deadlines specified in Item (Second) above, along with a scanned electronic copy of the Certification Statement form after signing by the Chief Accountant and CFO, and the CEO or Managing Director as applicable.

P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463

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Fourth: The annual prudential data forms must be reviewed by the company's External Auditor before providing them to SAMA, and a copy of the signed audit certificate from the auditor must be attached with the forms.

Fifth: Publishing the quarterly reports and audited annual financial statements referred to in Article (Fifteen) of the Microfinance Companies Regulations on the company's website within (10) working days from the date of expiry of the submission deadline, including the following:

1. Statement of Financial Position.
2. Income Statement.
3. Cash Flow Statement.
4. Board of Directors' Report.

For information and compliance.

Yours sincerely,

Yazeed bin Ahmed Al-Sheikh
Deputy Governor for Supervision

Distribution Scope:

• Microfinance companies operating in the Kingdom.

P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463 ---