Book traversal links for Article 66
Article 66
No: 2/MFC | Date(g): 24/2/2013 | Date(h): 14/4/1434 |
Effective from Feb 24 2013 - Mar 07 2013
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Without prejudice to Paragraph 3 of Article 11 of the Law, the Finance Company shall not own securities such as stocks, bonds, SUKUK and derivatives except in the following cases:
1. | As part of a Finance transaction where the purpose of the transaction is to grant Finance to the Borrower; | |||
2. | To invest cash in hand, through local commercial banks deposits or through debt instruments that are approved by SAMA; | |||
3. | To hedge an existing Term Cost risk Exposure; and | |||
4. | To hedge an existing currency risk Exposure. |