SAMA shall license a finance company to engage in one or more of the following activities:
a.
Real estate finance
b.
Production asset finance
c.
Small and medium enterprise finance
d.
Finance lease
e.
Credit card finance
f.
Consumer finance
g.
Microfinance
h.
Any other finance activity approved by SAMA
A finance company may acquire assets in order to finance third parties’ acquisition of such assets.
2.
SAMA shall license entities seeking to engage in activities supporting finance activity in a manner that achieves competition in providing such services. The Regulations shall specify the legal form of such entity and conditions to be satisfied.
