Skip to main content
Custom print
Download Original PDF

Fourth: Documents Required to be Attached to the License Application

Date(g): 24/1/2024 | Date(h): 14/7/1445 Status: In-Force

Translated Document

Effective from Jan 24 2024 - Jan 23 2024
To view other versions open the versions tab on the right

  1. Letter of application for a license to Practice (BNPL) Activity (electronically).
  2. license application form, as approved by SAMA, after completing all sections (soft copy).
  3. A copy of the memorandum of association and the articles of association -if any- (soft copy), and a copy of the commercial register and the memorandum of association and the articles of association (if applicable) for the existing company (soft copy).
  4. The organizational structure including all necessary departments and functions with their mandates (soft copy).
  5. Fit and Proper Form approved by SAMA for each founding member after being completed, signed by the founding member, and approved by the person authorized to submit the license application (soft copy).
  6. Fit and Proper Form approved by SAMA for each candidate for membership in the board of directors and subcommittees after being completed and signed by the candidate and approved by the person authorized to submit the license application (soft copy).
  7. Economic feasibility study and business plan, according to the details specified in the license application form.
  8. An irrevocable bank guarantee in an amount equivalent to 20% of the minimum capital for the activity to be licensed, by any local bank for SAMA, which is automatically renewed until the full capital is paid (soft copy with a commitment to provide the original bank guarantee letter upon request).