2. General Provisions | SAMA Rulebook

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2. General Provisions

No: 46020559

Date(g): 1/10/2024 | Date(h): 28/3/1446

Status: In-Force

Effective from 2025-03-27 - Mar 26 2025
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2.1	These Principles are aimed to:
	a.	Enhancing internal control and improving the Company's operations and business, taking into account that the methods by which these Principles are applied depend on many factors, including the Company’s size, type, and nature and complexity of business.
	b.	Setting the minimum requirements to enable the Department to perform its tasks efficiently and optimally.
2.2	These Principles shall not prejudice the requirements imposed on the Company under relevant laws, regulations and instructions, including but not limited to the following:
		The Finance Companies Control Law and its Implementing Regulations. The Real Estate Finance Law and its Implementing Regulations. The Rules on Outsourcing for Finance Companies. The Anti-Fraud Rules for Finance Companies. The Rules Governing Real Estate Refinance Companies. The Rules for Engaging in Debt-Based Crowdfunding. The Rules for Regulating Buy-Now-Pay-Later (BNPL) Companies. The Key Principles of Governance in Financial Institutions under the Control and Supervision of SAMA. The Code of Conduct and Work Ethics in Financial Institutions. The Requirements for Appointments to Senior Positions in Financial Institutions Supervised by SAMA. The Cyber Security Framework. The Information Technology Governance Framework. The Whistle Blowing Policy for Financial Institutions.
2.3	Best local and international internal audit standards issued by relevant entities must be followed in a manner that does not contradict these Principles and the instructions issued by SAMA.