Financing companies' rulings in the Saudi system by Dr. Abdulrahman Al-Osaimi

Regulations of financing companies in the Kingdom of Saudi Arabia Dr. Abdulrahman Al-Sulami First edition 1447 AH Number of pages: 742 pages Book contents: This research consists of an introduction, a preface, three chapters, a conclusion, and indexes. The introduction includes: the importance of the topic and reasons for choosing it, research objectives, research problem, research questions, previous studies, research methodology, research plan. The preface: the nature of financing companies, which includes three sections: First section: definition of financing companies, with three demands. Demand one: definition of companies. Demand two: definition of financing. Demand three: definition of financing companies. Second section: characteristics of financing companies. Third section: types of financing activities. First chapter: procedures and rules for regulating financing companies, consisting of two sections. First section: procedures for issuing a license to financing companies, with two demands. Demand one: licensing requirements, including three points. Point one: licensing application attachments. Point two: suitability of founding members and board members. Point three: minimum paid-up capital of the company. Demand two: issuing a license to financing companies, with four points. Point one: examination of the submitted application and decision. Point two: scope and duration of the license. Point three: termination of the license. Point four: completing the procedures for establishing the financing company. Second section: organizational structure of financing companies, with six demands. Demand one: Board of Directors. Demand two: committees derived from the Board of Directors. Demand three: shareholders' rights, with two points. Point one: receiving profits. Point two: attending shareholders' meetings. Demand four: internal regulatory rules for financing companies, with twelve points. Point one: organizational structure, method of exercising powers, and responsibilities. Point two: granting credit and operational procedures. Point three: executive management. Point four: financial and accounting management. Point five: information technology and security. Point six: customer service and collection. Point seven: risk management. Point eight: audit management, compliance, and internal control. Point nine: salaries, bonuses, and incentives. Point ten: errors and complaints. Point eleven: combating fraud in financing companies. Point twelve: changes in senior management. Demand five: assigning special tasks to financing companies, with two points. Point one: rules for assigning special tasks to financing companies. Point two: tasks assigned to external service providers. Demand six: supporting activities for financing activities, with two points. Point one: issuing a license for supporting activities for financing. Subsection one: scope and duration of the license. Subsection two: cancellation and termination of the license. Point two: rules for supporting activities for financing. First chapter: regulations of financing, consisting of two sections. First section: policies and stages of granting financing, with five demands. Demand one: financing granting policies, with five points. Point one: credit policy and its components. Point two: credit analysis. Point three: creditworthiness classification. Point four: exposure limits and their provisions. Subsection one: related parties. Subsection two: obtaining financing that violates regulations. Point five: maximum total financing. Demand two: financing guarantees, with three points. Point one: accepted types of guarantees. Point two: basis for calculating the value of guarantees. Subsection one: monitoring guarantees. Subsection two: executing on guarantees. Point three: risk provisions. Demand three: stages of granting financing, with nine points. Point one: consumer credit record. Point two: examining the consumer credit record. Point three: registering credit information of the beneficiary. Point four: administrative levels for granting financing. Point five: assessing the creditworthiness of the applicant and their ability to repay. Point six: assessing exposure risks. Point seven: evaluating guarantees. Point eight: insurance against financing risks. Point nine: refinancing. Demand four: assets of financing and rights arising from them, with two points. Point one: intended disposal of assets of financing or rights arising from them. Point two: procedures for disposing of assets or rights. Demand five: prohibitions for financing companies, with two points. Point one: activities prohibited for financing companies. Point two: facilities prohibited for financing companies. Second section: protecting beneficiaries' rights, with three demands. Demand one: principles of protecting clients of financing companies, with two points. Point one: general principles. Point two: mutual responsibilities. Demand two: beneficiaries' rights related to the financing contract, with ten points. Point one: contract data. Point two: standards for financing costs and how to calculate them. Point three: annual percentage rate. Point four: fees, commissions, and administrative costs. Point five: effects of late installment payments. Point six: exercising the right of withdrawal. Point seven: early repayment. Point eight: it is the financing contract. Point nine: transfer of rights by the financing company to another party. Demand three: general rights of beneficiaries, with five points. Point one: data and information protection. Point two: communication through advertising and marketing. Point three: before or upon signing the financing agreement. Point five: errors and complaints. Third chapter: violations, penalties, and judicial jurisdiction, consisting of two sections. First section: violations and penalties, with two demands. Demand one: types of violations of the supervision system for financing companies and its executive regulations, with four points. Point one: professional violations. Point two: dealings that expose shareholders and creditors of financing companies to risk. Point three: violation of the financing companies system and its regulations. Point four: exemption of financing companies from some provisions of the executive regulation. Demand two: penalties, with five points. Point one: penalty for professional violations. Point two: penalty for dealings that expose shareholders and creditors to risk. Point three: penalty for delaying the debtor in fulfilling their debt. Point four: penalty for continuing violations. Point five: penalty for violating the supervision system for financing and its regulations. Second section: judicial jurisdiction in disputes and violations arising from financing systems, with two demands. Demand one: jurisdiction of the Dispute Resolution Committee for disputes and violations arising from financing systems, with four points. Point one: international jurisdiction. Point two: jurisdiction of the court of competent authority. Point three: subject matter jurisdiction. Point four: territorial jurisdiction. Demand two: Dispute Resolution Committee for disputes and violations arising from financing systems, with two points. Point one: rules of work for the Dispute Resolution Committee for disputes and violations arising from financing systems. Point two: rules of work for the appellate Dispute Resolution Committee for disputes and violations arising from financing systems. The conclusion: includes the most important results and recommendations. Indexes include the following: - Index of Quranic verses. - Index of Hadiths and sayings. - Index of names. - Index of sources and references. - Index of topics.