Article 30: SAMA Supervision
| Date(g): 1/12/2021 | Date(h): 26/4/1443 | Status: In-Force |
| 1- | The Debt-Based Crowdfunding Company shall: | |
| a. | Provide SAMA with any other required data, information, and/or documents in accordance with the forms, control, instructions and times determined by SAMA. | |
| b. | Provide SAMA, upon its request, with all information and documents related to the Debt-Based Crowdfunding Company, its activities, shareholders, and staff. Refusal to do so shall be deemed a violation of the provisions of these Rules and the Law. | |
| c. | Enable SAMA’s specialized staff and appointed auditors, upon request, to access facilities relevant to the Debt-Based Crowdfunding Company’s business and all documents and data (including digital data). | |
| 2- | The Debt-Based Crowdfunding Company and its staff shall not conceal, or attempt to conceal, any information or violations or refrain from answering any inquiries made by SAMA. | |
| 3- | MA may take necessary actions to ensure the compliance of Debt-Based Crowdfunding Companies with the relevant rules, laws, regulations, and instructions. Such actions may include making supervisory or inspection visits to the Company’s head office, meeting its staff, and reviewing its regulations, procedures, and records. SAMA may appoint a third party at the expense of the Debt-Based Crowdfunding Company to carry out any of the procedures taken in accordance with the provisions of the Rules. | |
Please review Circular No. (44028131) dated 02/04/1444H regarding the Quarterly Risk Report Preparation and Submission to the Central Bank, Including Audited Annual and Quarterly Financial Statements, Prudential Data, and Publication on the Company's Website