Banking companies (money changers)
The Saudi Arabian Monetary Agency classifies the licenses granted to this type of institution into two categories, based on the different activities provided by these institutions, as follows: Category (A): Exchange currencies; buy and sell foreign currencies; buy and sell travellers’ cheques; and transfer funds within and outside the Kingdom.
Insurance Companies
In the Kingdom, the insurance sector falls under the money market, unlike most countries, where the insurance and reinsurance sector falls under the capital market in most countries.
Finance Companies
Finance companies in the Kingdom are divided into two categories: Companies licensed to conduct real estate financing activities: These companies operate under the supervision of the Saudi Arabian Monetary Authority (SAMA), providing various financing services for real estate activities of all kinds.
Credit Information Companies
This type of institution facilitates commercial credit decision-making by collecting and analyzing demographic information and other financial and non-financial variables available in credit reports to assist credit grantors or related entities in extrapolating customers’ credit behaviors based on mathematical models that use credit report variables and data as key inputs to support credit decisions. There […]
External Shariah Advisory Firm
Kayan provides, according to its size and capacity, Shariah advisory services that include Shariah review and audit services, as well as advice related to developing products that comply with Shariah provisions, as part of its professional services.
Open-Ended Investment Company (OEIC)
A term used to describe open-ended investment funds (OEIC).
Saudi Stock Exchange (Tadawul)
It is a Saudi joint-stock company established in accordance with the provisions and regulations of the Capital Market Law and the Companies Law. Tadawul’s Board of Directors consists of nine members appointed by a decision of the Council of Ministers. The Board includes a representative of the Ministry of Finance, a representative of the Ministry […]
Closed joint-stock company
A company in which subscription to its issued shares is limited to its founders.
Joint Stock Company
It is a company whose capital is divided into tradable shares of equal value. A shareholder’s liability is limited to the value of the shares subscribed, and they are not liable for the company’s obligations beyond the nominal value of their subscribed shares.
Voting right
It is the right granted to the shareholder to vote on the company’s policies and decisions at the General Assembly meeting, in proportion to the number of shares held.