2. General Provisions | SAMA Rulebook

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2. General Provisions

No: 46020562

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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a.	These Principles aim to:
	1.	Promote sound practices in the Company, and continuously ensure the effectiveness and implementation of compliance policies.
	2.	Promote a compliance culture that is integral to the Company's culture, taking into account that its scope of integration goes beyond the Unit Staff to include all of the Company's employees.
	3.	Define the responsibilities of the Board, the Audit Committee, the Executive Management, the Compliance Unit, the Company's o employees, and the Internal Audit Department towards compliance.
	4.	Set the minimum requirements to enable the Unit to perform its duties efficiently, professionally and effectively.
b.	These Principles shall not prejudice the requirements imposed on finance and real estate refinance companies under relevant laws and instructions, including but not limited to:
		Finance Companies Control Law and its Implementing Regulations. Real Estate Finance Law and its Implementing Regulations. Anti-Money Laundering Law and its Implementing Regulations. Law of Combating Crimes of Terrorism and its Financing and its Implementing Regulations. The Rules Governing Real Estate Refinance Companies. Rules for Engaging in Debt-Based Crowdfunding. Rules for Regulating Buy-Now-Pay-Later (BNPL) Companies. Anti-Fraud Rules for Finance Companies. Key Principles of Governance in Financial Institutions under the Control and Supervision of the Saudi Central Bank. Code of Conduct and Work Ethics in Financial Institutions Financial Consumer Protection Principles and Rules. The Requirements for Appointments to Senior Positions in Financial Institutions Supervised by SAMA. Debt Collection Regulations and Procedures for Individual Customers Rules for Establishing a Customer Care Department in Finance Companies. The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Guide. Whistle Blowing Policy for Financial Institutions.