The Saudi Central Bank (SAMA) has announced the issuance of the updated rules for engaging in debt-based crowdfunding.

Main Updated Rules:

• Forcing debt-based crowdfunding platforms to add more disclosure requirements that include default rates through their platform.
• Debt-based crowdfunding companies may participate in financing beneficiaries according to the Rules.
• Debt-based crowdfunding companies can offer finance amounts exceeding 7,500,000 SAR to large commercial enterprises, licensed real estate development enterprises, or in the event of obtaining a written no-objection from SAMA.