Book traversal links for Article 42
Article 42
Effective from 2022-04-26 - Oct 22 2022
To view other versions open the versions tab on the right
1. | The Company shall provide SAMA with its quarterly financial statements, prudential returns, auditor’s report and risk report after being discussed and approved by the risk and credit management committee and the board, along with the decisions made in this regard. These documents must be submitted within (30) working days from the end of the quarter. |
2. | The Company shall provide SAMA with its audited annual financial statements, auditor’s report and the board’s report within (45) working days from the end of the calendar year. |
3. | The Company shall provide SAMA with its annual prudential returns within (60) working days from the end of the calendar year. |
4. | The Company shall immediately report to SAMA any losses exceeding (15%) of its paid-up capital. |
5. | SAMA may amend the periods specified in this Article when deemed necessary. |