المادة 15(f): Delegation by the Fund Manager

f) The distributor that has been assigned in the Kingdom pursuant to paragraph (e) of this Article, must be one of the following:

1. A capital market institution licensed to carry out dealing activity.

2. A capital market institution licensed to carry out advising activity.

3. A local bank.

4. Investment Fund Distribution Platform.

5. Electronic Money Institution licensed by the Saudi Central Bank. g ) The assignment referenced in paragraph (e) of this Article must be made pursuant to a contract in writing, and where the distributor is a local bank or an Electronic Money Institution licensed by the Saudi Central Bank, it must include the following controls at minimum:

1. The units of the publicly offered real estate investment funds shall be distributed through the distributor’s websites or application only.

2. The website or application of the assigned distributor shall provide the ability to fill and sign the following documents including:

a) The fund manager's investment account opening agreement.

b) The “Know Your Customer” form provided in the Capital Market Institution Regulations.

c) The Fund’s subscription form, and the terms and conditions or the fund to be subscribed in.