An Announcement on the Commencement of Receiving Authorisation Applications to Conduct Credit Rating Activity in the Kingdom of Saudi Arabia

Further to the CMA's announcement on 17/01/1436H corresponding to 10/11/2014G regarding the CMA Board of Commissioners issuance of its resolution to approve the Credit Rating Agencies Regulations (the "CRAs Regulations") and to amend the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority where the Regulations shall be effective and in full force as of 17/11/1436H corresponding to 1/9/2015G.

CMA shall receive Credit Rating Agencies authorisation applications as of 21/9/1436H corresponding to 8/7/2015G and allow those who apply for authorisation before 1/9/2015G to conduct rating activity till they receive the CMA license and the commencement of business letter no later than 28/11/1437H corresponding to 31/8/2016G.

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