1. Definitions

No: 46020562

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

Status: In-Force

For the purpose of applying the provisions of these Principles, the following terms and phrases, wherever mentioned herein, shall have the meanings assigned thereto unless the context otherwise requires:

Term	Definition
SAMA	The Saudi Central Bank.
Principles	Compliance Principles for Finance and Real Estate Refinance Companies.
Company	Finance Company and Real Estate Refinance Company licensed by SAMA.
Board	Company's Board of Directors.
Executive Management	Individuals who run the Company's day-to-day business and propose and implement strategic decisions. The Executive Management is considered the senior management.
Unit	The Company's compliance function/department, which reports directly to the Audit Committee.
Compliance Officer	Compliance Unit's officer/manager in the Company.
Unit Staff	All Compliance Unit's staff who perform compliance-related duties and responsibilities.
Laws	The laws that apply to the Company and its Staff.
Instructions	All binding regulations, rules, principles, frameworks, guidelines and circulars issued by SAMA, in exercise of its role as a regulatory and supervisory authority, and other competent entities.
Non-Compliance Risk	Risks that result in the application of penalties or regulatory measures against the Company, or lead to it incurring financial losses or harming its reputation as a result of non-compliance with laws and instructions.