Article 54
| No: 2/MFC | Date(g): 24/2/2013 | Date(h): 14/4/1434 |
Effective from 2013-03-08 - Mar 07 2013
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| 1. | The aggregate finance amount offered by a Finance Company shall not exceed five times the capital and reserves for Finance Companies carrying out real estate finance activities and three times the capital and reserves for Finance Companies carrying out other finance activities, unless a non-objection letter from SAMA is obtained. | |||
| 2. | SAMA may increase the limit on the aggregate finance amount offered by a Finance Company to the extent it deems appropriate, taking into account the financial position of the Finance Company, its performance and the market conditions. | |||
This article has been amended in accordance with His Excellency the Governor's Decision No. 72/M SH T, dated 20/06/1440H.