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Effective from Dec 01 2021 - Nov 30 2021 To view other versions open the versions tab on the right
The Debt-Based Crowdfunding Company shall:
1-
Develop written appropriate organizational policies that address, at least, the internal organization, governance, credit, risk management, compliance, conflict of interest, confidentiality and security of information, outsourcing, and human resources. Such policies shall be approved by the Company’s board of directors.
2-
Ensure that its technical equipment and related systems are adequate for its operational needs, nature of activity and risk situation and in accordance with best practices and SAMA’s instructions in this regard.
3-
Design its information technology systems and related processes in a way that ensures the availability, integration, safety and confidentiality of information as well as the security of such systems and data. The Debt-Based Crowdfunding Company shall assess these systems and processes on a regular basis in accordance with the generally recognized technical standards.
4-
Establish business continuity plans for emergencies, which include alternative solutions to restore its operations within an appropriate time.
5-
Keep all client documents, records and files in an orderly and safe manner and ensure that all files are complete and updated regularly, for a period of at least 10 years from the date of the end of the relationship.
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Have sufficient and qualified human resources in terms of knowledge and expertise to meet its operational needs, business activities and risk situation.
