2020 Q4 Report En · Page 7

 
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SAMA Issues Licensing Rules for Activities Supporting the 
Financing Activity 
The Saudi Central Bank (SAMA) announced the issuance of the 
licensing rules for activities supporting the financing activity, 
which aim to regulate the provisions for licensing this type of 
company and regulate its practice of its activities, in accordance 
with the powers granted to the institution under the provisions of 
the financing companies control system and its executive 
regulations. 
The issuance of these rules comes as part of SAMA's efforts to 
support the financing sector by allowing the entry of new and 
supportive activities to strengthen the sector, support companies 
and facilitate their work, in line with the institution's role in 
enhancing financial stability and supporting opportunities for 
growth and economic development in the Kingdom towards 
achieving the goals of the Kingdom's Vision 2030. 
The Capital Market Authority Approves the Amendment to 
Annex 1 of the Regulatory Rules and Procedures Issued 
Pursuant to the Companies Law relating to Listed Joint Stock 
Companies 
As part of the CMA efforts to develop the capital market in Saudi 
Arabia, and improve performance of business in the private 
sector, the CMA Board issued its Resolution to approve the 
amendments to Annex 1 (Proxy Form) of the Regulatory Rules 
and Procedures issued pursuant to the Companies Law relating to 
Listed Joint Stock Companies by deleting the official seal 
requirement, if the shareholder is a legal person. 
This amendment aims to reduce the requirements for the 
shareholder when it authorizes, pursuant to a written proxy, 
another person to attend the general and special assembly 
meetings and to vote on the agenda on its behalf. 
Deregulating Market Institutions’ Commission of Buying and 
Selling Listed Equities on Nomu- Parallel Market for Both 
Seller and Buyer 
CMA has issued an approval to deregulate the Market Institutions’ 
(Exchange Members) commission of buying and selling listed 
Equities on Nomu- Parallel Market for both seller and buyer, 
while Tadawul and CMA commission will remain unchanged. 
This move aims to facilitate a more attractive trading 
environment, enhance the market’s liquidity, and improve the 
availability of value-added services provided by Market 
Institutions. This change is in line with global best practices and is 
currently being introduced as part of the overall Nomu – Parallel 
Market enhancement plan undertaken by both the CMA and 
Tadawul. 
Listing and Trading Government Debt Instruments in the 
Saudi Stock Exchange 
The Saudi Stock Exchange (Tadawul) has approving through 
quarter four the listing request of the debt instruments from a 
class already listed, issued by the Government of the Kingdom of 
Saudi Arabia submitted by the Ministry of Finance as per the 
Listing Rules with a total value of SAR 1.064bn. 
CMA Permits 3 New Fintech Companies to Operate in the 
FinTech Lap  
Based upon the Capital Market Law and reference to the Financial
Technology Experimental Permit Instructions, which aims to 
provide a regulatory framework that is conducive for the 
innovation of Financial Technology (FinTech) in the capital 
market within the Kingdom. In relation to this, the CMA Board of
Commissioners issued its resolution to grant set of requests for 
Financial Technology Experimental Permit 
• Osool & Bakheet Investment Company a Financial Technology 
Experimental Permit (ExPermit) to create an equity crow