Use of Fair Value Model or Revaluation Model to Measure Property and Investment Property
| No: 43034916 | Date(g): 23/11/2021 | Date(h): 18/4/1443 | Status: In-Force |
Effective from 2021-11-23 - Nov 22 2021
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Translation for review.
Referring to the Capital Market Authority Circular No. (S/7/5/61/20) dated 02/01/2020G, which allows listed companies to use the fair value model or revaluation to measure properties and investment properties for financial periods starting in 2022 or later, along with the related requirements.
We would like to emphasize that local banks and financial institutions listed on the Saudi Stock Exchange (Tadawul) must coordinate in advance with SAMA if they wish to change to using the fair value model or revaluation to measure properties and investment properties.