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  • Part Three: Capital Adequacy and Liquidity

    • Article 24

      The Finance Company shall comply with the levels of capital adequacy and liquidity required in accordance with the rules, requirements and criteria stipulated by SAMA.

    • Article 25

      The Finance Company shall provide SAMA with precautionary data at specific times according to the models, controls and instructions determined by SAMA.

    • Article 26

      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.