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Article 24: Consumer Protection and Data Confidentiality

Effective from Jan 01 2024 - Nov 30 2021
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1-The Debt-Based Crowdfunding Company shall establish a function for handling complaints and set clear procedures for receiving, documenting, reviewing, and responding to consumer complaints within the period specified by SAMA. Such complaints shall be kept in special records that also include all necessary details in relation to the compliant and the procedures taken.
 
2-All employees of the Debt-Based Crowdfunding Company are required to maintain the confidentiality of clients’ data and transactions and must not disclose them to other parties even after the end of service for employees or revocation of license, except in accordance with the relevant laws and instructions.
 
3-The Debt-Based Crowdfunding Company shall take all necessary measures to ensure the confidentiality of clients’ information and transactions.