Book traversal links for Article 26
Article 26
No: 2/MFC | Date(g): 24/2/2013 | Date(h): 14/4/1434 |
The Finance Company shall obtain a non-objecting letter from SAMA prior to the approval of any distribution of profits, any other distributions, the recommendation of it or announcing it, after making sure of the following:
1. | The distribution does not cause capital adequacy, or liquidity to drop below the required levels; | |||
2. | The distributions of the fiscal year must not exceed the actual net profit for the previous fiscal year; and | |||
3. | Any other conditions set by SAMA. |