Appendix (B) Basic Documents Required for Obtaining the License

Translated Document

	Document Required to be Submitted via LICPayments@SAMA.GOV.SA	Type of Company
1.	The License Application Form approved by SAMA after being completed and signed by the applicant.	All Companies
2.	The company's letter requesting the license must be signed by the owner of the company, the chairman of the board, or the CEO.	All Companies
3	The decision of the owners or the board of directors supporting the license application, specifying the authorized person to submit and follow up on the application.	All Companies
4	A copy of the memorandum of association signed by the owners, showing their names and ownership percentages.	All Companies
5	Draft Articles of Association for the company.	All Companies
6	A chart of the company's ownership structure.	All Companies
7	An organizational structure chart, including details of the board of directors' structure and senior positions.	All Companies
8	Proof of the commercial registration from the Ministry of Commerce.	All Companies
9	A copy of the required technical agreements and licenses.	All Companies
10	Approvals and licenses issued to the company by other authorities.	All Companies
11	Proof of the minimum required capital.	All Companies
12	A copy of the existing policies, controls, and measures for company management (approved by the Board of Directors), as follows:	All Companies
A.	Anti-Money Laundering and Counter-Terrorism Financing	All Companies
B.	Business continuity
C.	Data Confidentiality Protection.
D.	Cybersecurity.
E.	Consumer Protection.
F.	Protection of Clients' Funds (including the agreement with the bank fully responsible for clients' funds).
G.	Fraud Detection.
H.	Settlement of Clients' Funds.
I.	Account Opening
J.	Risk-Based Client Limits.
13	IT infrastructure plans and system architecture, including, but not limited to, applications, systems, data centers, servers, and networks.	All Companies
14	A business plan that includes a sufficient explanation of the regulatory and operational aspects.	All Companies
15	The audited annual financial statements by a certified public accountant for the last three financial years. If the applicant has been in operation for less than three financial years, the applicant must provide the financial statements for the period they have been in operation since the start date.	Existing companies
16	Investment license from the Ministry of Investment.	Existing companies
17	The company's compliance plan for the other required documents.	All Companies
Document Required to be Submitted via FPPayments@SAMA.GOV.SA After reviewing the requirements of the second edition of the requirements for appointment to senior positions		Type of Company
1	Fit and Proper Form and its attachments (National ID, Resume) for all major shareholders	All Companies
2	Fit and Proper Form and its attachments (candidate's identification and resume) for the board of directors and senior positions	All Companies
3	Completion of staffing positions within the organizational structure, with adherence to the required localization ratios at the leadership and hierarchical levels.	All Companies

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