Book traversal links for Article 24: Compliance
Article 24: Compliance
Effective from Jan 01 2024 - Feb 29 2020
To view other versions open the versions tab on the right
1- | The finance support company shall establish internal controls and procedures to ensure compliance with these Rules and all relevant laws, regulations and instructions. |
2- | The finance support company shall keep sufficient records to confirm compliance with these Rules and other relevant laws, regulations and instructions, and take the necessary measures to prevent violations thereof. |
3- | The finance support company shall not disclose information to third parties without the approval of SAMA. |
4- | The finance support company shall obtain SAMA’s non-objection before acquiring assets other than those necessary to manage its business. |
5- | The finance support company shall obtain SAMA’s non-objection before partial or full liquidation of the company or its activity. |
6- | Non-compliance with these Rules shall be deemed a violation of the Financing Companies Control Law and its Implementing Regulations. |