المادة 6: Investment Restrictions of the Direct Financing Fund

Sixth: Investment Restrictions of the Direct Financing Fund

a) The Direct Financing Fund conducts the activity of direct financing for legal persons and investment funds, to the exclusion of individuals.

b) The term of any financing granted through the Direct Financing Fund shall not exceed the remaining duration of the term of the Fund, including any rescheduling or extension of such financing.

c) The total direct financing provided through the direct financing fund shall not exceed the total size of the Fund.

d) The Direct Financing Fund shall not assume exposure to a single beneficiary, or to multiple beneficiaries belonging to the same group equal to or exceeding (25%) or more of the total size of the Fund.

e) The Direct Financing Fund Manager shall, when selling a financing contract relating to a beneficiary inside the Kingdom to a person inside the Kingdom, include a full -recourse right in the sale agreement, pursuant to which the purchaser of the financing contract within the Kingdom shall have the right of refer back to the Fund to demand payment in accordance with the arrangements specified in the contract.

f) The Direct Financing Fund Manager shall not sell financing contracts concluded outside the Kingdom to financial institutions licensed by the Saudi Central Bank (SAMA).