IV. Documents Required to be Attached to the License Application
Status: In-Force
1.
License application letter (hard or soft copy).
2.
SAMA's license application form, after completing all sections (soft copy).
3.
A copy of the company's memorandum of association and articles of association, and a copy of the existing company's commercial register, memorandum of association, and articles of association, if any (soft copy).
4.
A list of founding members or shareholders/partners, the shares they own in the company, and their percentage.
5.
The organizational structure including all necessary departments and functions with their mandates (soft copy).
6.
SAMA's Fit and Proper Form for each founding member after being completed, signed by each founding member and approved by the person authorized to submit the license application (hard or soft copy).
7.
SAMA's Fit and Proper Form for each candidate for membership in the board of directors and its sub-committees after being completed and signed by the candidate and approved by the person authorized to submit the license application (hard or soft copy).
8.
Economic feasibility study and business plan, according to the details specified in the license application.
9.
An irrevocable bank guarantee for an amount equivalent to the minimum capital for the activity to be licensed, issued in favor of SAMA by a local bank and automatically renewed until the capital is paid in full.
10.
As an exception to Paragraph (9) of this Section, the bank guarantee provided to companies that practice the activity only through financial technology must be equivalent to 20% of the minimum capital of the activity, provided that the minimum capital is paid before obtaining the final license.
11.
Draft agreements and contracts proposed with third parties, especially agreements and contracts with related parties and external service providers (soft copy).
