Arab News, Wednesday, Oct 20, 2021 | Rabi Al-Awwal 13, 1443
Saudi Arabia raises penalty for violating finance companies law
Saudi Arabia: Saudi Cabinet on Tuesday approved raising the penalty
for violating the Finance Companies Law to not more than SR2 million ($0.53
million), the Saudi Press Agency reported.
Following the amendment, the penalty shall be SR2 million or 10 percent of the
value of finance to which the violation was carried out, or imprisonment for a
period of not more than two years, or one of those two penalties.