SAMA calls for public input on updated rules for engaging in debt-based crowdfunding

22/05/2024 Argaam
Logo ofSaudi Central Bank (SAMA)

Logo of Saudi Central Bank (SAMA)

The Saudi Central Bank (SAMA) is seeking public consultation on the draft of the updated rules for engaging in debt-based crowdfunding, though the public consultation platform Istitlaa.

 

The updated version aligns with SAMA's ongoing efforts to regulate debt-based crowdfunding institutions and support the local fintech sector, according to a statement by the central bank today, May 22.

 

It seeks to allow institutional beneficiaries to secure financing matching their size and activity, while also enhancing disclosure requirements.

 

Suggestions and observations on the amendments shall be submitted within 30 days of this announcement to assess their relevance in finalizing the draft. The updated rules are available on Istitlaa platform for reference. 

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