Providing the Central Bank with the Semi-Annual Report on Risks, Prudential Data, and Publishing Quarterly Reports and Audited Annual Financial Statements on the Company's Website

No: 44028129

Date(g): 27/10/2022 | Date(h): 2/4/1444

Status: In-Force

Translated Document

Based on the powers granted to SAMA under the relevant regulations and instructions, We would like to inform that micro-consumer financing companies must comply with the following:

	first:	Provide SAMA with the semi-annual reprt on risk as stipulated in Article (36) of the Rules Regulating Consumer Microfinance Companies, after it has been reviewed by the Risk and Credit Management Committee (if applicable) and the Board of Directors and approved including the decisions made regarding it within (30) business days from the end of each of June and December of each calendar year.
	Second:	Complete all required data in the annual and quarterly prudential data forms mentioned in Article (14) of the Rules Regulating Consumer Microfinance Companies according to the approved forms attached. Ensure the accuracy of all data and submit it to SAMA within (25) business days from the end of March, June, September, and December for the quarterly prudential data forms, and within (60) business days from the end of the calendar year for the annual prudential data forms.
	Third:	Submit the completed prudential data forms electronically in (Excel) format by the deadlines specified in item (2) above, along with a scanned electronic copy of the Certification Statement signed by the Chief Accountant, Chief Financial Officer (CFO), and the Chief Executive Officer (CEO) or Managing Director, as applicable.
	Fourth:	The annual prudential data forms must be reviewed by the company's external auditor before submission to SAMA and attach a copy of the audit report signed by the external auditor with the forms.
	Fifth:	Publish the quarterly and annual audited financial statements referred to in Article (15) of the Rules Regulating Consumer Microfinance Companies on the company's website within (10) business days from the due date. This should include:
	1.	Statement of Financial Position.
	2.	Income Statement.
	3.	Cash Flow Statement.
	4	Board of Directors' Report.