1. Definitions

Effective from 2023-05-21 - May 21 2023
To view other versions open the versions tab on the right

1.1	The terms and phrases mentioned herein shall have the same meanings stated in the Rules of Licensing Finance Support Activities.
1.2	The following terms and phrases, wherever used herein, shall have the corresponding meanings unless the context requires otherwise:
	1.2.1	SAMA: The Saudi Central Bank.
	1.2.2	Instructions: The Instructions for Practicing Aggregation Activity.
	1.2.3	Activity: Aggregation activity.
	1.2.4	Financier: Banks, finance companies, and entities licensed to engage in finance activities under the laws applicable in Saudi Arabia.
	1.2.5	Consumer: A person to whom services are offered by the entity.
	1.2.6	Entity: An entity licensed by SAMA to practice aggregation activity.
	1.2.7	Platform: Any electronic means used to carry out the activity, including websites and applications.
	1.2.8	Documented Channels: An approved, recorded and verifiable contact method that can be retrieved electronically, such as text messages and emails.