Skip to main content
Entire section Custom print Text Only Rich Text Print / Save as PDF
Download Original PDF

Fourth: Documents Required to be Attached to the License Application

Date(g): 24/1/2024 | Date(h): 14/7/1445 Status: In-Force

Translated Document

  1. Letter of application for a license to Practice (BNPL) Activity (electronically).
  2. license application form, as approved by SAMA, after completing all sections shown in the form (electronically).
  3. A copy of the memorandum of association and the articles of association -if any- (electronically), and a copy of the commercial register and the memorandum of association and the articles of association (if applicable) for the existing company (electronically).
  4. The organizational structure including all necessary departments and functions and the main tasks of each of them (electronically).
  5. Fit and Proper Form approved by SAMA for each founder after being completed and signed by the founder, and approved by the person authorized to submit the license application (electronically).
  6. Fit and Proper Form approved by SAMA for each candidate for membership in the board of directors and subcommittees after being completed and signed by the candidate and approved by the person authorized to submit the license application (electronically).
  7. Economic feasibility study and business plan, according to the details specified in the license application form.
  8. An irrevocable bank guarantee in an amount equivalent to 20% of the minimum capital for the activity to be licensed, by any local bank for SAMA, which is automatically renewed until the full capital is paid (electronic copy with a commitment to provide the original bank guarantee letter upon request).