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Second: Instructions for Applying for a License to Conduct Financing Activities and Refinancing Operations

Status: In-Force

Translated Document

  1. It is prohibited to modify the license application form in any way. The license application form must be submitted by the founders or their authorized representatives, accompanied by a certified authorization copy.
  2.  The forms and documents specified in the license application must be submitted in either paper or electronic copies as indicated in the list. 

  3. The terms and phrases in the license application form shall have the meanings specified in the Finance Companies Control Law and its Implementing rules.

    The term "Applicant" refers to the founders or shareholders of the company seeking the Central Bank's approval to complete the establishment and licensing procedures for conducting financing activities and refinancing operations. 

  4. The applicant must ensure the accuracy, precision, comprehensiveness, and completeness of the information provided in the license application. Providing false information to the Central Bank or omitting to disclose essential information that should have been disclosed for licensing purposes is a violation of the provisions of the Regulation on Monitoring Finance Companies and Article 7 thereof, which may lead to the rejection or cancellation of the license application.
  5. Applications for licensing and inquiries regarding license requests can be submitted via email at (LICFCC@SAMA.GOV.SA).