Based on Article Eleven and Seventy-nine of the implementing regulations for finance companies control law, which states that "the finance company shall adopt international accounting standards in preparing its accounts and financial statements".

finance companies must adopt international accounting standards as follows:

First: Finance companies that applied for a license in the capacity of a contributing company shall start adopting international accounting standards beginning from the first quarter of 2015. These companies must submit their annual financial statements to SAMA according to international standards starting from the first quarter of 2015, as stipulated in Article Seventy-two of the implementing regulations for finance companies control law.

Second: Finance companies that applied for a license in the capacity of a limited liability company shall start adopting international accounting standards beginning from the first quarter of 2015. These companies must submit their annual financial statements to SAMA according to international standards starting from the first quarter of 2015, as stipulated in Article Seventy-two of the implementing regulations for finance companies control law.

Additional provisions under circular number 381000074519 dated 14/07/1438 H.