The Saudi Central Bank issued rules for practicing crowdfunding activities based on debt, relying on the Financing Companies Control Law. The rules include definitions and general provisions, licensing requirements, internal organization, and supervision and compliance. Engaging in the activity without a license is prohibited, and obtaining it requires the submission of specific documents. Founding members must provide a list of their names and an irrevocable bank guarantee of five million riyal...
Rules for Practicing Debt Crowdfunding Activity - 1443