Principle 6: Responsibilities of Company Staff Towards Compliance
No: 46020562
Date(g): 1/10/2024 | Date(h): 28/3/1446
Status: In-Force
1.
Company employees shall be responsible for compliance with and implementation of the policies, procedures and controls issued by the relevant control and supervisory authorities.
2.
Company employees shall refer regulation- and supervision-related inquiries received from the competent authorities to the Unit. Moreover, no employee shall have the right to respond to any such inquiry or provide such authorities with the requested information except through the Unit or unless otherwise authorized to do so. Company employees shall cooperate in providing documents that support the Unit to respond to such inquiries.
3.
Before applying for SAMA’s no-objection, the approval of the Unit, in addition to the approval of other relevant departments, for the offering of products and services to be provided by the Company to its individual clients or beneficiaries of microfinance shall be obtained, with documentation of the Unit’s verification that the product or service does not violate the relevant laws and instructions.
