SAMA conducts visits to entities it regulates on an annual basis as part of its supervisory responsibilities.
2.2 SAMA Inspection Visit to Company Headquarters
SAMA also carried out an inspection visit on September 8th by a separate team to ensure funded contracts are compliant with applicable laws and implementing regulations. A visit of similar nature was also conducted in 2014.
As part of their audit, the SAMA team was provided with a sample of contracts funded in 2015.
DAT was informed a report (for 2.1 and 2.2 above) with SAMA’s findings, if any, will be provided. To date, DAT has not received further comments from SAMA.
2.3 Reporting on Prudential Returns