Effective from Jul 03 2012 - Nov 29 2012 To view other versions open the versions tab on the right
A finance company may not:
1.
Engage in activities other than finance activities.
2.
Acquire, directly or indirectly, other entities engaging in activities other than finance activities.
3.
Trade in currencies, gold, precious metals or securities.
4.
Trade in real estate.
5.
Engage in wholesale or retail trading.
6.
Accept call deposit.
7.
Accept time deposits or non-banking facilities or opening accounts of all types for its clients, unless licensed by SAMA. The company shall deposit with SAMA a percentage of the value of the deposits as specified by the Regulations.
8.
Obtain foreign short-term finance without obtaining the approval of SAMA as specified by the Regulations.
