SAMA seeks public input on amending minimum capital for finance companies

SAMA's headquarters

The Saudi Central Bank (SAMA) started today, Dec. 15, inviting public, specialists and interested parties to express their opinions on the draft amendments to Article (8) of the executive regulations of the Finance Companies Control Law, through the Public Consultation Platform “Istitlaa”.

Public feedback will be received for 15 days, SAMA said, indicating that all opinions and observations will be studied thoroughly for adopting the final draft of this article.

Under the proposed amendments, the minimum paid-in capital for small and medium enterprises (SMEs) financing firms would reach SAR 50 million.

These changes are aimed to boost SMEs through attracting a certain niche of investors to establish financing firms in this field and to reduce the related capital requirements.