KSA, 18 October, 2024 : The Saudi Central Bank (SAMA) has issued updated **Rules for Engaging in Debt-Based Crowdfunding** to enhance the regulation of the sector and further develop the finance and FinTech industries.
Key updates include stricter disclosure requirements, such as default rate transparency, and allowing crowdfunding companies to participate in financing beneficiaries. Additionally, companies can now offer financing above SAR 7.5 million to large commercial or licensed real estate enterprises, or with SAMA's approval.
The updated rules were shaped by public and expert feedback following SAMA's earlier draft release. Full details are available on SAMA's website.
Source : www.sama.gov.sa
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