1. The General Committee is composed of the following:

• A Chair and a Deputy Chair, selected by the committee members themselves every two years.
• Members who are General Managers or Executive Managers of financing companies in the Kingdom of Saudi Arabia.
• A Secretary and a Deputy Secretary.

1. Financing companies shall appoint a representative from their General Managers or Executive Managers to be members of the General Committee.
2. The Chair and Deputy Chair of the General Committee are appointed by the committee members through a majority vote every two years.
3. The Chair of the General Committee appoints the Secretary and Deputy Secretary every two years.
4. A new Chair for the General Committee must be nominated at the last meeting held at the end of the statutory term (two years) through a majority vote.
5. The Chair or Deputy Chair of the committee cannot be nominated for the same position for two consecutive terms.
6. The roles of Chair of the General Committee and the Executive Committee cannot be held concurrently.
7. The member representing a company shall be relieved of their duties as soon as their employment with the company ends, and the company they represent must nominate another member to replace them.

1. The General Committee shall hold meetings at least once a year. The meetings may also be convened if the Chair deems it necessary or if nine (9) members of the General Committee request it in writing.
2. The General Committee shall hold meetings at the Financial Institute or at a location agreed upon by the majority of the members.
3. A meeting of the General Committee is considered valid if attended by at least two-thirds of the members.
4. All members are required to attend General Committee meetings. A member may delegate a representative from the company to attend and vote at the meetings, provided that the representative is appointed by the company’s senior management.
5. General Committee members cannot delegate other representatives for two consecutive meetings.
6. The General Committee must adhere to the meeting agenda as scheduled.
7. The General Committee makes its decisions in meetings through majority voting.
8. In the event of a tie vote, the Chair’s vote is decisive. Members who disagree should record their objections in the meeting minutes.
9. Members may abstain from voting on any decisions made in the meetings, and the reasons for abstention should be recorded in the meeting minutes.
10. The General Committee may invite any expert to participate in the meetings with the Chair’s approval, without the right to vote.
11. Discussions should be conducted with high professionalism and in an organized manner, and should not include topics not listed in the meeting agenda.
12. All members must maintain the confidentiality of information discussed during the meetings.
13. The Chair must ensure that members adhere to the rules and guidelines governing the committee meetings, which all members are required to follow.

1.Members should inform the Committee Chair of the topics they believe will contribute to achieving the desired goals of the meetings. The Chair should consider the proposed topics when approving the agenda.

2. The agenda should be prepared by the Secretary or their Deputy, including all the topics to be discussed in the meeting, and then approved by the Committee Chair.

3. The Secretary or their Deputy must send the agenda along with the documents to be discussed in the meeting to all Committee members and a copy to the Central Bank representative at least ten (10) working days before the meeting via email.

4. The Secretary must prepare meeting minutes after each Committee meeting, recording the names of attendees, all topics discussed, decisions voted on, objections, and cases of abstention, including reasons if any.

5. The Secretary or their Deputy must send the meeting minutes to all Committee members and the Central Bank representative within ten (10) working days after the meeting via email, before being approved and signed by the Committee Chair and the Secretary. The Secretary should be provided with any comments and feedback within five (5) working days from receiving the meeting minutes.

6. The Secretary must keep all reports and minutes in a manner that allows for easy retrieval. When the Chair's committee, upon the expiration of their term, provide the Central Bank representative with all documents through a handover report. The Central Bank representative will then pass the documents to the new Committee Chair.

General Committee

1.Form an Executive Committee from among its members under the name "Executive Committee," nominate its members, and also nominate three reserve members for the Executive Committee.

2. Provide general guidance and direction to the Executive Committee regarding common issues faced by the finance sector in the Kingdom of Saudi Arabia.

3. Monitor the activities of the Executive Committee for General Managers and evaluate its performance to ensure its effectiveness and achievement of the desired goals.

4. Propose and make necessary amendments to this document and develop it as needed, by majority vote, provided that the Central Bank does not object to these amendments before final approval.

Chair of the Committee

5. Ensure the effectiveness and success of the General Committee, in addition to the ongoing follow-up of all tasks assigned to the General Committee.

6. Develop the General Committee's plans to contribute to the accomplishment and development of the Committee's work.

7. Manage discussions and debates in General Committee meetings and provide a conducive environment in meetings to help achieve the benefits of exchanging views and perspectives efficiently.

8. Communicate with the Executive Committee to ensure tasks and projects assigned to it are progressing as required.

9. Provide the Central Bank's representative with all documents through a handover report at the end of their term, so the representative can then hand over the documents to the new Committee Chair.

10. Sign with the Secretary and approve the final version of the meeting report.

11. Deliver to the Central Bank an updated copy of this document at the beginning of each calendar year, including the desired objectives of any changes made, if applicable.

Vice Chair of the Committee

12. If the Chair of the General Committee is replaced, leaves, or is relieved before the end of their term, the Vice Chair will take their place and assume all their responsibilities.

‏Secretary

13. Prepare all arrangements for meetings, including the meeting venue; organize and coordinate the proposed topics in the agenda and have it approved by the Committee Chair. Responsible for sending the agenda along with the documents to be discussed in the meeting to all Committee members and a copy to the Central Bank representative via email at least ten (10) working days before the meeting.

14. Prepare meeting minutes after each Committee meeting, recording the names of attendees, all topics discussed, decisions voted on, objections, and cases of abstention, including reasons if any.

15. Send the meeting minutes to all Committee members and the Central Bank representative within ten (10) working days after the meeting via email, before they are approved and signed by the Committee Chair and the Secretary. Comments and feedback should be provided to the Secretary within five (5) working days from receiving the report.

16. Sign with the Chair on the final version of the meeting report.

17. Keep all reports and minutes in a manner that allows for easy retrieval.

Deputy Secretary

18. If the Secretary of the General Committee is absent, leaves, or is relieved before the end of their term, the Deputy Secretary will take their place and assume all their responsibilities.

Committee Members

19. Participate in the issues, risks, and challenges facing them that impact the finance sector.

20. Stay informed about all developments in the finance sector, including new regulations and changes to existing rules, whether from the Central Bank or other relevant regulatory bodies, in addition to keeping up with international developments.

21. Adhere to high professionalism by actively participating in the discussions during Committee meetings.

1. The General Committee shall form the Executive Committee once every two years.

2. The Executive Committee shall be composed of the following:

• A Chair and a Deputy Chair, who are elected by the Committee members every two years, subject to the Central Bank's approval.
• A Secretary and a Deputy Secretary.

1. The members of the Executive Committee and the reserve members shall be nominated every two years by the General Committee members through a majority vote. The Executive Committee shall have no fewer than seven (7) members and no more than nine (9) members, and there shall be no fewer than three (3) reserve members.
2. The Chair and Deputy Chair of the Executive Committee shall be appointed by the Executive Committee members through a majority vote every two years, following approval from the Central Bank.
3. The Chair of the Executive Committee shall appoint a Secretary and a Deputy Secretary every two years.
4. If any member leaves before the end of their current term, the Executive Committee shall appoint a replacement from the reserve members designated by the General Committee. The replacement member will assume the position of the resigning member until the end of the current term. The Executive Committee must notify the General Committee of the replacement member.
5. Any member of the Executive Committee shall be exempted if they leave, are relieved, or resign from the company they represent.

1. The Executive Committee shall hold its meetings at least four times a year. It may also convene if the Chair deems it necessary or if two (2) members of the Executive Committee request it in writing.
2. The Executive Committee shall hold its meetings at the Financial Institute or at a location agreed upon by the majority of members.
3. A meeting of the committee is valid if attended by at least two-thirds of the members.
4. Members of the Executive Committee are not allowed to delegate others to attend meetings or vote on decisions.
5. Members of the Executive Committee must adhere to the planned meetings.
6. Decisions of the Executive Committee are made by majority vote during meetings.
7. In the event of a tie vote, the Chair’s vote will be decisive. Members who oppose a decision should record their comments in the meeting minutes.
8. A member may abstain from voting on any decisions made in the meetings, and the reasons for abstention should be recorded in the meeting minutes.
9. The Executive Committee may invite any expert to participate in meetings with the Chair’s approval, although they will not have voting rights.
10. Discussions should be conducted with high professionalism and in an organized manner, ensuring that they do not include topics not listed in the agenda.
11. All members must maintain the confidentiality of information shared within the meeting.
12. The Chair must ensure that members adhere to the rules and regulations governing committee meetings, which all members must follow.

1. Members should inform the Committee Chair of topics they believe will contribute to achieving the desired goals of the meetings. The Chair should consider the proposed topics when approving the agenda.
2. The agenda should be prepared by the Secretary or their Deputy, including all topics to be discussed in the meeting, and then approved by the Committee Chair.
3. The Secretary or their Deputy must send the agenda along with the documents to be discussed in the meeting to all Committee members and a copy to the Central Bank's representative at least ten (10) working days before the meeting via email.
4. The Secretary must prepare meeting minutes for all meetings, which should include at a minimum the names of attendees, all topics discussed, decisions voted on, objections, and cases of abstention, including reasons if any.
5. The Secretary or their Deputy must send the meeting minutes to all Committee members and the Central Bank's representative within ten (10) working days after the meeting via email, before they are approved and signed by the Chair and the members. Comments and feedback should be provided to the Secretary within five (5) working days from receiving the minutes.
6. The Executive Committee must prepare a charter when establishing any sub-committee. The charter should include at a minimum the committee’s name, purpose, objectives, role, responsibilities, authority, composition, the process for nominating, appointing, and relieving members, whether the committee is permanent or temporary (with duration if temporary), meeting procedures, required reports, and their submission process. The charter must be approved by the Chair of the Executive Committee and must receive the Central Bank's approval for each sub-committee charter.
7. When nominating members for sub-committees, there should be fair representation of licensed finance companies, ensuring no more than one representative per company on the same committee.
8. The Executive Committee must prepare an annual comprehensive report, accompanied by all charters and necessary documents, and provide it to the General Committee and the Central Bank. The report should include at a minimum the key decisions made by the committee, the number of meetings held during the period, the names of attendees, and the names, status, and major achievements of sub-committees throughout the year.
9. The committee must ensure clarity and accuracy in the reports it prepares.
10. The Secretary must keep all reports, minutes, and documents in a manner that allows for easy retrieval. At the end of their term, the Chair must provide all documents to the Central Bank's representative through a handover report, so the representative can then pass the documents to the new Chair.

Executive Committee

1. Study and implement all tasks assigned to it by the General Committee.

2. Establish temporary or permanent sub-committees, including preparing a charter that, at a minimum, covers the name of the sub-committee, its purpose and goals, its role and responsibilities, its composition, the process for appointing and relieving members, whether the committee is permanent or temporary (with duration specified if temporary), meeting procedures, required reports, and their submission process.

3. Ensure that sub-committees comply with all applicable regulations, rules, guidelines, and instructions.

4. The Executive Committee has the right to reconstitute any of the permanent or temporary sub-committees and to dissolve them before their term ends through a decision made by a majority vote.

5. Evaluate and monitor the performance of existing sub-committees periodically to ensure their effectiveness.

6. Prepare a comprehensive report, accompanied by all charters and necessary documents, and provide it to the General Committee and the Central Bank. This report should include, at a minimum, key decisions made by the committee, the number of meetings held during the period, the names of attendees, as well as the names, status, and major achievements of sub-committees throughout the year.

7. Focus on contributing to the development of the finance sector in the Kingdom of Saudi Arabia by adhering to best practices and international standards that benefit the sector in general and its stakeholders in particular.

8. Take necessary actions to stay updated on all developments in the finance sector, particularly those related to international standards and guidelines issued by local and international bodies that work on enhancing corporate governance practices and regulations.

Chair of the Committee

9. Ensure the effectiveness and success of the committee, as well as continuously follow up on all tasks assigned to the committee.

10. Develop plans for the Executive Committee that will contribute to the accomplishment and advancement of the committee’s work.

11. Manage discussions and debates during Executive Committee meetings, providing a conducive environment for meetings that facilitates achieving the desired benefits from exchanging opinions and viewpoints efficiently.

12. Approve the charter for establishing any sub-committees.

13. Define strategies and priorities for implementing committee decisions and seek new ideas to improve and develop the committee's role.

14. Provide the Central Bank's representative with all documents through a handover report at the end of their term so the representative can then transfer the documents to the new Chair.

15. Communicate and follow up with the Central Bank regarding pending issues, performance improvement, and achieving the committee's objectives.

Deputy Chair of the Committee

16. If the Chair of the Executive Committee is absent, leaves, or is relieved before the end of their term, the Deputy Chair will assume their responsibilities.

Secretary

17. Prepare all arrangements for meetings, including the meeting venue.

18. Prepare the agenda, including all topics to be discussed in the meeting, and obtain approval from the Chair.

19. Send the agenda along with the documents to be discussed in the meeting to all committee members and a copy to the Central Bank's representative at least ten (10) working days before the meeting via email.

20. Prepare meeting minutes for all meetings, which should include at a minimum the names of attendees, all topics discussed, decisions voted on, objections, and cases of abstention, including reasons if any.

21. Send the meeting minutes to all committee members and the Central Bank's representative within five (5) working days after the meeting via email, before they are approved and signed by the Chair and the members. Comments and feedback should be provided to the Secretary within five (5) working days from receiving the minutes.

22. Keep all reports, minutes, and documents in a manner that allows for easy retrieval.

Deputy Secretary

23. If the Secretary of the Executive Committee is absent, leaves, or is relieved before the end of their term, the Deputy Secretary will assume their responsibilities.

Committee Members

24. Discuss all financial, operational, and regulatory issues, as well as all risks, opportunities, and key challenges they face, with the aim of exchanging expertise and achieving mutual benefits.

25. Stay informed about all developments in the finance sector, including new rules and changes to existing rules, whether issued by the Central Bank or other relevant regulatory bodies, as well as international developments.

26. Members must maintain high professionalism by actively participating in discussions during committee meetings.

1. The Executive Committee shall form permanent and temporary sub-committees as needed.

2. The Executive Committee must, at a minimum, establish permanent sub-committees to address the following topics:

• Matters related to real estate financing.
• Matters related to leasing financing.
• Matters related to awareness and media.
• Matters related to risk management.
• Matters related to compliance, anti-money laundering, and counter-terrorism financing.
• Matters related to financial issues.
• Matters related to the protection of customers.

3. Each sub-committee is composed of a Chairperson and a Vice-Chairperson, who are elected by the Executive Committee members every two years.

4. Each sub-committee also includes a Secretary and a Deputy Secretary.

1. The Chairperson and Vice-Chairperson of the subcommittee are elected by a majority vote of the Executive Committee members every two years.

2. The Chairperson of the subcommittee appoints a Secretary and a Deputy Secretary every two years.

3. The Executive Committee has the right to exempt any member of the subcommittee with the approval of the Central Bank, based on a decision made by a majority vote.

4. Any member of the subcommittee is exempted if they leave, are exempted from, or resign from the company they represent.

1. The subcommittee shall hold its meetings at least six times a year, and it may convene if the Chairperson deems it necessary.

2. The subcommittee shall hold meetings at the Financial Institute or at a location determined by the Chairperson in Riyadh or any other place agreed upon by the majority of the members.

3. The charter establishing the committee must include all regulations concerning meetings, including quorum and decision-making procedures.

4. The subcommittee must adhere to the scheduled meetings as planned.

5. The subcommittee may invite any expert to participate in meetings with the Chairperson's approval, but without voting rights.

6. Discussions must be conducted with high professionalism, in an organized manner, and should not include topics not on the agenda.

7. All members of the committee must maintain the confidentiality of the information exchanged during the meeting.

8. The Chairperson must ensure that members adhere to the rules and instructions governing the committee meetings, which all members must follow.

1. Members should inform the Chairperson of any topics they believe will contribute to achieving the objectives of the meetings. The Chairperson should consider these suggested topics when approving the agenda.

2. The agenda should be prepared by the Secretary or their Deputy, and must include all the topics to be discussed in the meeting. It should then be approved by the Chairperson.

3. The Secretary or their Deputy must send the agenda along with the documents to be discussed to all committee members and a copy to the Central Bank representative at least ten working days before the meeting via email.

4. The Secretary must prepare minutes for all meetings, which should at a minimum include the names of attendees, all topics discussed, decisions made, any objections or abstentions with reasons if applicable.

5. The Secretary or their Deputy must send the meeting minutes to all committee members and the Central Bank representative within no more than five working days after the meeting via email, before they are approved and signed by the Chairperson and members. The Secretary should receive comments and feedback within five working days of receiving the minutes.

6. The subcommittee must prepare an annual comprehensive report, accompanied by all necessary documents, to be provided to the Executive Committee and the Central Bank. This report should, at a minimum, include the key decisions of the committee, significant achievements, difficulties encountered, suggestions, as well as the number of meetings held during the period and the names of attendees.

7. The committee should ensure clarity and accuracy in the minutes and reports it prepares.

8. The Secretary must archive all reports, minutes, and documents for easy retrieval. Upon the expiration of their term, the Chairperson should provide all documents to the Central Bank representative through a handover report, allowing the Central Bank representative to transfer the documents to the new Chairperson.

9.The charter establishing the committees will govern any additional documents that the committee deems necessary to include.

Subcommittees

1. Discuss all topics and related issues, and provide recommendations to the Executive Committee for review and final decisions.

2. Carry out all tasks assigned by the Executive Committee and regularly report on the progress of these tasks to the Executive Committee.

3. Subcommittees are responsible for all tasks deemed to fall under their purview by the Executive Committee.

4. Prepare an annual comprehensive report, accompanied by all necessary documents, to be provided to the Executive Committee and the Central Bank. This report should include at a minimum the key decisions made by the subcommittee, major achievements, difficulties encountered, suggestions, the number of meetings held during the period, and the names of attendees.

Chairperson

5. Ensure the effectiveness and success of the subcommittee; it is also their responsibility to continuously monitor all tasks assigned to the subcommittee.

6. Manage discussions and debates during meetings, and create a conducive environment that facilitates professional and efficient exchange of opinions and viewpoints.

7. Communicate with the Executive Committee and follow up on tasks with them, and provide them with all recommendations, reports, and other relevant information.

8. Hand over all documents to the Central Bank representative through a handover report upon the expiration of their term, so that the Central Bank representative can then transfer the documents to the new Chairperson.

Vice-Chairperson

9. In the absence, departure, or early exemption of the Chairperson, the Vice-Chairperson will assume their responsibilities and duties.

Secretary

10. Prepare all arrangements for meetings, including the meeting location.

11. Prepare the agenda, ensuring it includes all topics to be discussed in the meeting, and obtain approval from the Chairperson.

12. Send the agenda along with the documents to be discussed to all committee members and a copy to the Central Bank representative at least ten working days before the meeting via email.

13. Prepare minutes for all meetings, which should at a minimum include the names of attendees, all topics discussed, decisions made, any objections or abstentions with reasons if applicable.

14 .Send the meeting minutes to all committee members and the Central Bank representative within no more than five working days after the meeting via email, before they are approved and signed by the Chairperson and members. The Secretary should receive feedback within five working days of receiving the minutes.

15. Archive all reports, minutes, and documents for easy retrieval.

Deputy Secretary

16. In the absence, departure, or early exemption of the Secretary, the Deputy Secretary will assume their responsibilities and duties.