Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
The Consumer Microfinance Company, its Board members, and employees must provide all information and documentation concerning the Company, its business, its shareholders, and its personnel, that SAMA may request at any time.
2.
SAMA has the right to inspect the records and accounts of the Consumer Microfinance Company, through SAMA’s personnel or by auditors appointed by SAMA, provided that the inspection shall be at the Company’s premises.
3.
The Consumer Microfinance Company and its employees shall facilitate the task of whom SAMA appoints for inspection and cooperate with them particularly as follows:
a.
providing the inspector with the company’s records, accounts and documents he/she deems necessary to perform his/her task;
b.
providing information and explanations as required by the inspector; and
c.
disclosing any violations or irregularities in the Company’s operations to the inspector at the beginning of his/her mission
4.
The Consumer Microfinance Company shall adhere to the recommendations and instructions given by SAMA to address the observations of inspection visits.
5.
The Consumer Microfinance Company and any of its employees may not hide or attempt to hide any information or irregularities or fail to provide any clarifications requested by the appointed inspector or neglect to provide any requested information and documents on time.
6.
SAMA’s employees in charge of the supervision, control, and inspection shall not be vulnerable to any claims as a result of performing their duties.
