Do any of the shareholders also serve as the establishment’s director or executive managers?
Yes, the shareholders also serve as the establishment’s director or executive managers.
Does the establishment disclose financial statements, auditor opinions, ultimate shareholders, and board member biographies on its website?
No, the establishment does not disclose financial statements, auditor opinions, or shareholder information on its website.
What does it mean to own other establishments? (Question appearing in the Credit Request screen – General Information and Shareholders tab)
The answer should be “Yes” if the establishment owns other entities such as other companies, stores, factories, etc.
What does it mean for an entity to have a Risk Management Department? (Question appearing in the Credit Request screen – Governance tab)
The answer should be “Yes” if the establishment has a department that monitors, analyzes, and identifies potential risks, and works to avoid or reduce their impact, such as financial collapse risks. This department also assesses the feasibility and risks of the establishment’s projects.
Are there reports submitted on compliance levels to management as mentioned in the Credit Request screen – Governance tab?
Yes, compliance levels are reported, including meeting minutes, financial, and technical reports related to the establishment.
What is the number of days of current sales mentioned in the Credit Request screen – Profits and Debts tab?
It refers to the number of days the company takes to convert inventory into sales. (Note: the original Arabic phrase “تصنيف المخزون” likely refers to inventory turnover/selling.)
What is the number of days of current inventory mentioned in the Credit Request screen – Profits and Debts tab?
It refers to the number of days the company keeps inventory before it is sold.
What is the number of overdue days for unpaid payments mentioned in the Credit Request screen – Profits and Debts tab?
It refers to the number of days the company takes to pay its obligations to creditors.
Can the beneficiary add supporting documents for the financial statements?
Yes, the beneficiary can upload additional supporting attachments to their request in the financial statements section.
Can a foreign company be converted into a Saudi company and vice versa?
Yes, this is possible and is subject to obtaining a certificate of compliance with technical standards and credit classification.
