Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Import of Goods
The entry of Goods into any member state from outside the GCC territory in accordance with the provisions of the Unified Common Customs Law.
Export of Goods
Supply of Goods from any Member State to outside of the GCC Territory in accordance with the provisions of the Common Customs Law, during the transitional period, an export of goods includes goods exported to any place outside of KSA territory.
Systemic Banking Crisis
A financial crisis that affects the entire banking system, often leading to widespread instability and the need for government intervention.
Transitional Rules
A set of statutory provisions that provide specific exceptions that are applied during the transitional period resulting from the issuance or amendment of any of the laws, regulations, tax or zakat instructions.
Double Taxation Agreement
An international agreement with the purposes of avoiding double taxation and charging a taxpayer with double taxation in two contracting countries for the same income, profits, or evasion of income, and capital tax.
Sale Agency Agreement
A legal contract between a seller and an agency or representative, outlining the terms and conditions for the sale of products or services.
Technical Procedures
The mechanisms relevant to listing and trading securities to execute transactions including settlement, clearing, ownership registration, transfer and deposit of securities.
Fraud
The act of deceiving or manipulating information, assets, or processes with the intent to gain an unfair advantage, often resulting in financial losses or legal consequences.
Customs Formalities
All the operations which must be carried out by the persons concerned and by the Customs in order to comply with the Customs law.
Business Procedures
Standardized processes that organizations follow to ensure efficiency, consistency, and compliance.
Corporate Actions
Actions taken by an issuer which lead to increasing or decreasing the number of its securities or changing its nominal value including, for example, increasing or decreasing its capital.
Ehkaam
Sector of Private Properties Affairs in the State Properties General Authority.
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