الهيئة العامة للرقابة المالية

• Approvals include Bokra, SAFE, Sahl Finance , Act Financial and Sadara Holding

FRA Committee for Establishing and Licensing Companies has approved a series of significant licenses. Among the key decisions, the Committee approves the establishment of Bokra Private Equity Investment Fund and Bokra Venture Capital Investment Fund, in addition to granting license for Bokra Metals Investment Fund to begin investment activities.

The Committee also approved the establishment of SAFE Real Estate Fund and SAFE for Underwriting and Real Estate Fund Management.

The Committee further granted Sahl Finance a license to provide financing for small and medium-sized enterprises (SMEs). It also licensed Act Financial to manage investment funds and approved Sadara Holding’s request to add underwriting to its corporate purpose.

As the designated body under FRA Chairman’s decree No. 3060 of 2023, this Committee is responsible for a broad mandate that extends beyond initial licensing. Its powers encompass approving the establishment and licensing of new non-bank financial companies, along with sanctioning requests for additional activities and mechanisms for existing firms. The Committee also oversees changes in legal frameworks for companies in securities and consumer finance, approves amendments to articles of association (both preliminary and final), and ratifies incentive and reward schemes. Furthermore, it provides opinions on suspending General Assembly resolutions for securities and consumer finance companies, approves the opening, relocation and closure of branches and processes requests for liquidation, temporary or voluntary suspension of activities. Finally, the Committee is responsible for the registration, renewal and delisting of founding agents for non-bank financial companies.