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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 administrate levels for granting Finance shall be determined based on the type and Amount of Finance, including defining Finance types that require the approval of more than one person and the decision for acceptance or refusal of the Finance shall be subject to the powers granted for each administrative level.
2.
The Finance Company must obtain a non-objecting letter from SAMA before extending any of the following:
a.
Finance to a foreign Borrower that is not a resident in the Kingdom.
