Bank Profits and Statutory Reserve in the Saudi Banking Control Law
أرباح البنوك والاحتياطي النظامي — نظام مراقبة البنوك
Twenty-five percent of annual net profit goes to the statutory reserve until it equals paid-up capital; profits may not be distributed or transferred abroad before setting-up costs and losses are written off and ten percent of capital expenditure is set aside; and a distribution in breach is void.
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Other topics in the Saudi Banking Control Law
Definitions of Banking BusinessLicensing Banking BusinessStatutory Deposit and LiquidityLending Limits and Credit FacilitiesActivities Prohibited to BanksActivities Requiring the Agency's ApprovalBank Boards and ManagersAuditing Bank Accounts and Financial StatementsThe Agency's Supervision and InspectionMeasures Against Violating BanksPenalties for Banking Law Violations