Article 7: Management Requirements

Date(g): 1/12/2021 | Date(h): 26/4/1443

Effective from Dec 01 2021 - Nov 30 2021
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All candidates for supervisory and executive positions in a Debt-Based Crowdfunding Company must:
	a.	Meet the professional eligibility requirements set by SAMA.
	b.	Be permanent residents of the Kingdom of Saudi Arabia.
	c.	Be professionally qualified and have sufficient experience in the field.
	d.	Not have violated any of the provisions of the Banking Control Law, the Cooperative Insurance Companies Control Law, finance laws, or the Capital Market Law and its Regulations.
	e.	Not have been previously convicted of an offense impinging upon integrity, unless rehabilitated in accordance with applicable laws.
	f.	Have the sufficient solvency, and have not breached any financial obligations towards their creditors nor have given an indication that they cannot continue to meet their financial obligations towards their creditors.