SAMA
GENERAL
DEPARTMENT OF
FINANCE COMPANIES
CONTROL
Prudential Returns
Handbook (Finance
Companies)
Prudential Returns Handbook
Finance Companies Supervision Department
1. Introduction
Submission schedule
All licensed finance companies in Saudi Arabia are required to submit 2 sets of
Prudential Returns Forms. The submissions are as follows:
Party
Concerned
Forms
Submission
Periods
No. of Annual Submission
Submissions
Deadline (Date
for receipt by
SAMA)
Finance
companies
Quarterly
To be submitted on
a quarterly basis,
for a 3 month
period ends March
31st , June 30th,
September 30th, and
December 31st
4
Within 25
working days
after the end of
each calendar
quarter
Finance
companies
Annual
To be submitted on
an annual basis for
the 12- month
period ends
December 31st of
each calendar year
1
Within 60
working days
after
the end of each
calendar year
Submission Process
The Prudential Return Forms must be completed and submitted to SAMA in 2 formats:
1) Electronic excel-based forms, which are available for download on SAMA’s
website (http://www.sama.gov.sa). The forms should be sent by E-mail to the
following e-mail address: FCCPR@sama.gov.sa
2) Hard copies of the quarterly and annual forms must be delivered to: SAMA
Finance Company Control, P.O.Box 2992, Riyadh 11169, Kingdom of Saudi
Arabia. The finance company must assign the responsibility of completing the
forms. A certification statement must be attached to the hard copy and has to be
signed by the Chief Accountant, Finance Manager (CFO) and CEO or Managing
Director.
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Annual Prudential Return Forms guidelines:
Form 1.1: Balance Sheet Summary
Purpose:
The purpose of this form is to provide a summary of all shareholders’ equity, assets
a n d liabilities for finance companies.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
Definitions:
Cash equivalents/bank balances: All amounts included in cash, excluding statutory
deposits, and due from banks and other financial institutions with a maturity of three
months or less from the date of acquisition.
Net investment in finance lease: Aggregate amounts of futurestic lease payments,
including any purchase options granted to customers that are due to the finance
company with the time period of less than 1 year.
Other Current Accounts Receivable: All current receivables that are due to the finance
company with the time period of less than 1 year.
Prepaid expenses: Payments of items made in advance of receiving their benefits; these
expenses are amortized over the period as the corresponding benefits are received.
Assets held for sale: Aggregate of (trade) accounts and loans receivables that will be sold
to other entities, at lower of cost or net realizable value.
Other short term assets: Any other short term assets that have not been counted in the
above categories; the finance company must fill a supplementary note to explain these
assets.
Account Receivables, long term: All long term receivables that are net of allowance for
doubtful accounts.
Provisions for doubtful debts: Recoverability of some receivables may be doubtful
although not definitely irrecoverable. Such receivables are known as doubtful debts.
Prudence requires that an allowance be created to recognize the potential loss arising
from the possibility of incurring bad debts.
Intangible assets: Non-physical assets such as goodwill, patents, trademarks, and
copyrights.
Property, plant and equipment / fixed asset: Tangible assets held by an entity for the
production or supply of goods and services, for rentals to others, or for administrative
purposes. Fixed assets are normally expected to be used for more than one accounting
period which is why they are part of long term assets of the entity.
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Investment: An asset or item that is purchased in the hope of generating income or
appreciating in the future.
Other long term assets: Any other long term assets that have not been counted in the
above catagories; the finance company must fill supplementary note to explain the
nature of these assets.
Accounts payable: An accounting entry that represents an entity's obligation to pay off
a short-term debt to its creditors.
Accruals: Accounts on the balance sheet that represent liabilities and non-cash-based
assets used in accrual-based accounting.
Provisions: An amount that has been put aside in the finance company's accounts to
cover a futurestic liability.
Short term borrowings: Any debt incurred by the finance company that is due within
one year.
Other short term liabilities: Any other short term liabilities that have not been counted
in the above categories; the finance company must fill a supplementary note to explain
the nature of these liabilities.
Long term debt: Loans and financial obligations that are due after one year.
Employees' end of service benefits: Employees’ end of service benefits payable by the
company at the end of the current period.
Other long term liabilities: Any other long term liability that has not been counted in the
above categories; the finance company must fill a supplementary note to explain the
nature of these liabilities.
Paid-up share capital: The amount of the finance company's capital that has been funded
by shareholders.
Capital Reserve: A type of account on the finance company's balance sheet that is
reserved for long-term capital investment projects or any other large and anticipated
expense(s) that will be incurred in the future.
Share Premium: This is the account to which the amount of money paid (or promised
to be paid) by a shareholder for a share is credited to, only if the shareholder paid more
than the cost of the share.
General Reserves: A revenue reserve created for unspecified purposes. It represents a
decision to retain some part of the income of the finance company from distribution.
Retained earnings: Portion of net earnings not paid out as dividends, but retained by
the finance company to be reinvested in its core business or to pay debt.
Net change in fair value of investments: The change that has occurred in fair value of
investments from the beginning of the year to end of the year.
Other reserves: Any other reserve that has not been counted in the above categories; the
finance company must fill a supplementary note to explain the nature of these
reserves.
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Form 1.2: Overall Financing Portfolio
Purpose:
The purpose of this form is to provide the amount of performing assets to gauge the
credit risk of the finance company. The form focuses on loan volumes by sector,
activity, region, property type, activity by region, type of customer, related parties,
domicile of customer and number of customers by activity by region.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
In the first table, break down the gross financing volumes committed according to the
sector in which the borrower is active for its business.
In the second table, break down the gross financing volumes committed according to
the activity in which the borrower is active for its business.
In the third table, break down the gross real estate financing volumes by type of
property.
In the fourth table, break down the gross financing volumes committed according to
the region in which the borrower is active for its business.
In the fifth table, break down the gross financing volumes committed according to the
activity by region in which the borrower is active for its business.
In the sixth table, break down the gross financing volumes committed according to the
number of unique customers by activity by region in which the borrower is active for
its business.
In the seventh table, break down the gross financing volumes committed according to
the type of customer in which the borrower is active for its business.
In the eighth table, break down the gross financing volumes committed according to
the related parties in which the borrower is active for its business.
In the ninth table, break down the gross financing volumes committed according to
the domicile of customer in which the borrower is active for its business.
Definitions:
Gross financing volumes: A principle amount and interest of loans committed.
Unique customers: Unique customers are defined for table six where a unique customer
is an individual or entity that has a relationship with the finance company. For
example, if a customer has been granted more than one type of finance then it should
be considered as a single unique customer. Companies with more than one borrowing
facility should still be considered as a one unique customer.
Small enterprise: Any enterprise designed to generate profit with a maximum annual
turnover of SR 30,000,000.
Medium enterprise: Any enterprise designed to generate profit with a maximum annual
turnover of SR 100,000,000.
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Microfinance: Is a type of finance that is limited to finance production activities of small
businesses and craftsmen and the like. The finance amount shall not exceed
requirement of Implementing Regulation of the Finance Companies Control
Law.
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Form 1.3: Non-Performing Assets Analysis
Purpose:
The purpose of this form is to provide the outstanding balance of non-performing
assets to gauge the credit risk of the finance company. The form focuses on late
payments by different time durations by the financing activity, by borrowing sector,
by type of customer and net recoveries by financing activity.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
In this form, the duration has been divided into five durations as follows:
1- Less than 30 days.
2- Between 30-60 days.
3- Between 60-90 days.
4- Between 90-180 days.
5- More than 180 days.
In the first table, break down the total outstanding balance of delinquent contracts by
activity.
In the second table, break down the total outstanding balance of delinquent contracts
by borrowing sector.
In the third table, break down the total outstanding balance of delinquent contracts
by customer type.
In the fourth table, break down net recoveries by financing activities.
Definitions:
Delinquent payments: The payments which were not made to the finance company after
the due date has passed.
Small enterprise: Refer to the definitions in Form 1.2 Overall Financing Portfolio.
Medium enterprise: Refer to the definitions in Form 1.2 Overall Financing Portfolio.
Term Financing: Outstanding loan that has a specified repayment schedule and almost
has a maturity between one and 10 years.
Working Capital loans: A loan whose purpose is to finance everyday operations of the
finance company.
Microfinance: Refer to the definitions in Form 1.2 Overall Financing Portfolio. Floating
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Form 1.4 Sources of funds
Purpose:
The purpose of this form is to provide the source of funds that are used by the finance
companyin order to evaluate the leverage risk and the credit risk. The form includes
share capital, reserves and surplus, provisions, long and short term debts.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
Definitions:
Capital Reserve: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Share Premium: Refer to the definitions in Form 1.1 Balance Sheet Summary.
General Reserves: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Retained earnings: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Net change in fair value of investments: Refer to the definitions in Form 1.1 Balance Sheet
Summary.
Other reserves: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Provisions: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Provisions For contingencies: the provisions for a potential negative economical hit
which may occur in the future.
Provision for Diminution on Investments: the provisions that are made to recognize the
decline in the value of the current investments.
Provision for Standard Assets: General provisions, at a certain percent of the total
outstanding standard assets, are to create a financial buffer to protect the finance
company from the impact of economic downturns.
Debentures: A type of debt instrument that is not secured by physical assets or
collaterals.
Mutual Funds: An investment vehicle that is made up of a pool of funds collected from
many investors for the purpose of investing in securities such as stocks,
bonds/sukuks, money market instruments and similar assets.
Term Financing: Refer to the definitions in Form 1.3 Non-Performing Assets Analysis.
Working Capital loans: Refer to the definitions in Form 1.3 Non-Performing Assets
Analysis.
Overdraft: An extension of credit from a lending institution when an account reaches
down zero.
Asset backed loans: A special purpose vehicle (SPV) with securitization payments in the
form of different tranches. Finance companies back this security with receivables from
loans.
Intercorporate borrowings: borrowings that are between related finance companies
within the same affiliated group of companies. An affiliate company implies an inter8
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company relationship in which one of the companies owns less than a majority of the
other company’s stock. Alternatively, an affiliate company is an inter-company
relationship in which at least two different companies are subsidiaries of a larger
company.
Holding Companies: A parent corporation that owns enough voting stock in another
corporation to have control over it.
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Form 1.5 Borrowings Analysis
Purpose:
The purpose of this form is to provide the borrowings source, amount and cost to
gauge the credit risk of the finance company.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. The form includes three tables that have to be filled
which are borrowings from banks, borrowings from non banks, borrowings through
Asset Backed Loans.
Definitions:
Asset backed loans: Refer To the Definition in Form 1.4 Sources of Funds.
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Form 1.6 Off-Balance Sheet
Purpose:
The purpose of this form is to provide any potential liabilities that are not mentioned
in the balance sheet to gauge the credit risk of the finance company.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. This form contains one table that is broken down into
current year and previous year.
Definitions:
Under Option like contingent liabilities, there are three sub options to list balance sheet
exposures:
Loan commitments: Assurance by a lender to make money available to the finance
company on specific terms in return for a fee.
Options: A financial derivative that represents a contract sold by one party (option
writer) to another party (option holder). The contract offers the buyer the right, but
not the obligation, to buy (call) or sell (put) a security or other financial asset at an
agreed-upon price (the strike price) during a certain period of time or on a specific date
(exercise date).
Standby letters of credit or guarantee: A guarantee of payment issued on behalf of a client
that is used as "payment of last resort" if the client fail to fulfill a contractual
commitment with a third party.
Under non-option contingent liabilities there are four options to choose from:
Uncommitted or Unconfirmed facilities: These are facilities that are not committed or
confirmed through an existing contract but maybe called upon if certain conditions are
met (e.g., SAR X amount of defaults on portfolio sale)
Future Contract: A contractual agreement, generally made on the trading floor of a
futures exchange, to buy or sell a particular commodity or financial instrument at a
pre-determined price in the future.
Forwards: A cash market transaction in which delivery of the commodity is deferred
until after the contract has been made. Although the delivery is made in the future, the
price is determined on the initial trade date.
Interest rate swaps: An agreement between two parties (known as counterparties)
where one stream of future interest/profit payments is exchanged for another based
on a specified principal amount.
Forex: The market in which currencies are traded.
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Form 1.7 Assets Sale and Repurchase analysis
Purpose:
The purpose of this form is to provide information about any assets that have been
sold or repurchase in the given period.
Instructions:
This form contains two tables and each table is broken down into type of asset
purchased, financing activity, name of seller/buyer, amount and date of transaction.
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells.
Definitions:
Not Applicable.
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Form 2.1 Income Statement Summary
Purpose:
The purpose of this form is to provide a summary of all shareholders revenues and
expenses.
Instructions:
This form contains one table and it is broken down into current year and previous
year. The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells.
Definitions:
Financing expenses/cost of funds: This includes all costs associated with funding the
balance sheet (e.g., interest/profit payments on loans, processing fees on loans, late
payment fees on loans etc.)
Net loan impairments: Net losses on loans (impairments) given out by the finance
company in the given period.
Depreciation and Amortization: Depreciation is the method of allocating the cost of a
physical and material assets that is known as tangible assets over the accounting
period whereas the Amortization is for non-physically assets that is known as
intangible assets.
Third party service providers: A professional organization engaged by a company to
provide services for the finance company or in the name or on behalf of the finance
company to its customers.
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Form 2.2 Revenues Analysis
Purpose:
The purpose of this form is to provide a summary to the shareholders about all kinds
of revenues that are generated by the finance company.
Instructions:
This form contains four tables:
Table 1: Profit Income From Financing by Activity.
Table 2: Fees & Commission Income.
Table 3: Investment Income.
Table 4: Income From Investments By Type.
The form is broken down into current year and previous year. The yellow colored cells
are the input cells which need to be filled by the finance company and then it will
automatically fill the green colored cells.
Definitions:
Interest income: A revenue that is generated from the finance company’s finance assets
(loan)
Guarantee Fee: Fees charged by the finance company for bundling, servicing, selling
and reporting mortgage-backed securities to investors.
Underwriting Commission: The fee the finance company charges for underwriting a
security issue.
Dividends: A distribution of a portion of the finance company's earnings to its
shareholders.
Capital gains: An increase in the value of a capital asset (e.g., investment) that gives it
a higher worth than the purchase price. The gain is not recognised until the asset is
sold.
Fixed rate securities: An investment that provides a return in the form of fixed periodic
payments and the eventual return of principal at maturity. The payments of a fixedincome security are known in advance.
Floating rate securities: Securities with a variable interest/profit rate based on a certain
market index.
Structured credit: Receivables that have been securitized.
Mutual funds: Refer to definitions in Form 1.4 Sources of funds.
Equities: A stock or any other security representing an ownership interest.
Real estate: Real estate that generates income or is otherwise intended for investment
purposes rather than as a primary residence. This is for disclosure puropes because
some of the investements are not permissibal under the Implementing Regulation of
the Finance Companies Control Law.
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Form 2.3 Funding Cost Analysis
Purpose:
The purpose of this form is to provide a summary of all expenses that are related to
financing.
Instructions:
This form contains one table which is Expenses Related to Financing. The form is
broken down into current year and previous year. The yellow colored cells are the
input cells which need to be filled by the finance company and then it will
automatically fill the green colored cells.
Definitions:
Inter-corporate Deposits: Securities that are purchased by other corporations rather than
individual investors. May include securities of affiliate companies.
Debentures: Refer to definitions in form 1.4 sources of funds.
Asset backed loans: Refer to definitions in Form 1.4 Sources of Funds.
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Form 3.1 Investments
Purpose:
The purpose of this form is to provide a list of all investments held by the company
by type and rating. This section to be filled only in case of any remaining preregulation investments or through the exeptional SAMA approval for certain
investments (if applicable).
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
Definitions:
Fixed rate securities: Refer to definitions in Form 2.2 Revenues Analysis.
Floating rate securities: Refer to definitions in Form 2.2 Revenues Analysis.
Structured credit: Refer to definitions in Form 2.2 Revenues Analysis.
Mutual funds: Refer to the definitions in Form 1.4 Sources of funds
Equities: Refer to definitions in Form 2.2 Revenues Analysis.
Real estate: Refer to definitions in Form 2.2 Revenues Analysis.
Other types of investments: Any other investments not listed in the form.
Rated Investments: The rating assigned to a security of an issuer by credit rating
agencies.
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Form 4.1 Asset and liability maturity profile
Purpose:
The purpose of this form is to provide assets liabilities maturities for different time
period. The finance company should fill this form by disassociating the balance sheet
items by their maturity tenor. The actual gap will be auto-calculated at the bottom of
the form.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
The inputs are for predicted and expected out/inflows for different time periods.
Definitions:
Paid up Share Capital: Refer to the definitions in Form 1.1 Balance sheet summary.
Reserve and surplus: Reserve is the provision for specific purpose, and surplus
is the excess of assets or profit.
Accounts payable: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Accruals: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Provisions: Refer to the definitions in Form 1.1 Balance Sheet Summary.
Contingent liabilities: A potential obligation that may be incurred depending on the
outcome of a future event.
Long term Liabilities: An obligations of the finance company that become due after one
year in the future.
Short term assets: an assets that is to be sold, converted to cash, or liquidated usually within
one year.
Long term assets: an assets that is held for long time and to be sold or converted to cash,
or liquidated usually after one year.
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Form 4.2 Market Risk Management: Interest/Profit Rate Risk Repriced Balance
Sheet
Purpose:
The purpose of this form is to provide information on repriced Balance Sheet under
changing interest rates prevailing in the market. Put all interest/profit rate repriced
outstanding for assets and liabilities depending on the repricing tenor (i.e., assets
repriced every 3 months should be put under 30-90 days bucket).
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The company is
required to enter both numeric values and textual responses only in the yellow colored
cells of the form.
The inputs are for predicted and expected repriced items for different time periods;
however, if the item has nothing to do with the interest rate then only “Non-interest
rate bearings” column to be filled.
Definitions:
Short term assets: Refer to the definitions in Form 4.1 Asset & liability maturity profile.
Long term assets: Refer to the definitions in Form 4.1 Asset & liability maturity profile.
Accounts payable: Refer to the definitions in Form 1.1 Balance sheet summary.
Accruals: Refer to the definitions in Form 1.1 Balance sheet summary.
Paid up Share Capital: Refer to the definitions in Form 1.1 Balance sheet summary.
Reserves and surplus: Refer to the definitions in Form 4.1 Asset and liability maturity
profile.
Provisions: Refer to the definitions in Form 1.1 Balance sheet summary.
Contingent liabilities: Refer to the definitions in Form 4.1 Asset & liability maturity
profile.
Long term Liabilities: Refer to the definitions in Form 4.1 Asset & liability maturity
profile.
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Form 5.1 Top 50 Financing
Purpose:
The purpose of this form is to provide information on top loans granted to customers,
name of customer, type of customer and loan value shall be provided.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. For “select type” column there is a drop-down list
where the company can select the type of customer.
Definitions:
Not Applicable
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Form 5.2 Top 20 Debentures Subscribers
Purpose:
The purpose of this form is to provide information on top debentures subscribers,
name of subscriber, type of subscriber and debenture value shall be provided.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. For “select type” column there is a drop-down list
where the finance company can select the type of subscriber.
Definitions:
Not Applicable
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Form 5.3 Top 20 Sukuks Issued
Purpose:
The purpose of this form is to provide information on top sukuks issued, name of
customer, type of customer and bond value shall be provided.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. For “select type” column there is a drop-down list
where the finance company can select the type of customer.
Definitions:
Not Applicable
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Form 5.4 Top 20 Intercorporate Borrowings
Purpose:
The purpose of this form is to provide information on borrowings from companies,
name of corporate, type of corporate and borrowed amount shall be provided.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. For “select type” column there is a drop-down list
where the finance company can select the type of corporate.
Definitions:
Not Applicable
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Form 6.1 Annexure 1.
Purpose:
The purpose of this form is to provide information about loans, collaterals and growth
rate.
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form.
Definitions:
Not Applicable
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Form 6.2 Human Resources
Purpose:
The purpose of this form is to provide information about Saudi employees
distribution by function and the total number of all employees (Saudis and nonSaudis)
Instructions:
The yellow colored cells are the input cells which need to be filled by the finance
company and then it will automatically fill the green colored cells. The finance
company is required to enter both numeric values and textual responses only in the
yellow colored cells of the form. In the first tables all inputs are for the numbers of
Saudi employees distribution whereas the second table inputs for the total of Saudi
employees and non-Saudis.
Definitions:
Not Applicable
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Form 6.3 Supplementary Notes & Others details
Purpose:
The purpose of this form is to provide any notes that the company need to address or
to give more clarifications.
Instructions:
The yellow colored cells are the input cells which can be filled by the finance company
if needed.
Definitions:
Not Applicable
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2. Quarterly Prudential Return Forms Guidelines
Please refer to the annual financial reporting form
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