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Effective from 2013-03-08 - Mar 07 2013 To view other versions open the versions tab on the right
1.
The Finance Company shall define written Finance policies setting out rules and procedures for granting Finance, including but not limited to, classification of credit worthiness, procedures for dealing with, deteriorating credit rating and default Finance, types of accepted collaterals, methods for calculating their values, monitoring, administration and enforcement of collateral, and risk provisioning.
2.
All Finance policies and all amendments to policies must be approved by the Board and submitted to SAMA by the Finance Company.
