Based on Article Fourteen of the Finance Companies Control Law, which states: "Without prejudice to provisions of Article 3 of this Law, the finance company, as specified in the Regulations and in proportion with its assets and financial position, may issue securities and sukuk in accordance with the provisions of the Capital Market Law and its regulations." And Article Sixty-Seven of the implementing regulations of the Finance Companies Control Law, which states: "the Finance Company may issue securities only after obtaining a non-objecting letter from SAMA." In reference to the ongoing coordination between SAMA and the Capital Market Authority regarding the issuance of debt instruments by finance companies through special purpose entities.

SAMA would like to inform you that finance companies may submit a request to the Capital Market Authority to establish a "special purpose entity" in accordance with the rules governing special purpose entities issued by the Capital Market Authority, with notification to SAMA. SAMA also emphasizes the necessity of obtaining SAMA non-objection before issuing any debt instruments through the special purpose entity.