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Article 45

No: 43083271 Date(g): 26/4/2022 | Date(h): 25/9/1443 Status: In-Force
1.The Company shall adopt the International Accounting Standards in preparing its accounts and financial statements.
 
2.The Company shall make provisions for potential losses and risks in line with the International Accounting Standards. SAMA may require the Company to make an additional provision or more to meet potential losses and risks.
 
3.Subject to the International Accounting Standards, the Company shall define criteria for assets value reduction, provisioning standards and regularly verify their implementation.