SAMA may revoke the license in the following cases:
1-
Upon the request of the finance support company, taking into account the rights of the creditors and beneficiaries as well as the soundness of the financial system.
2-
If the finance support company has submitted false information or failed to disclose material information that should have been provided for licensing purposes.
3-
If the finance support company has violated the requirements of these Rules, the provisions of finance laws, or SAMA’s instructions.
4-
If the finance support company has not carried out the licensed activities within (6) months from the date of issuance of license.
5-
If the operations of the finance support company have been suspended for more than (3) consecutive months, or for (6) non-consecutive months without obtaining SAMA’s prior written no-objection.
