Article 34 of the Saudi Chambers of Commerce Law
المادة 34 من نظام الغرف التجارية · الفصل الرابع: الشؤون المالية للغرفة
Article 34 makes the chamber of commerce's fiscal year the same as the state's fiscal year.
Official text (Arabic)
This article has not been amended since the law was issued.
السنة المالية للغرفة هي السنة المالية للدولة.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 34 explained in plain English
This article is short and provides that the chamber of commerce's fiscal year is the state's fiscal year.
This means the chamber does not choose the start and end of its own fiscal year but follows the state's approved fiscal year. This rule directly affects other deadlines in the Law that are counted from the start or end of the fiscal year, including what the next article, Article 35, provides: the chamber works on the previous budget's estimates when the estimated budget is delayed, until the General Assembly approves the new budget within ninety days of the start of the fiscal year.
The article comes after Article 33, which lists the chamber's financial resources, within the part of the Law dealing with the chamber's financial affairs. Unifying the fiscal year helps the budget and final accounts to be prepared at one known time and makes it easier for the relevant authorities to follow them.
The article does not set the dates on which the year starts and ends; these follow what the state adopts for its fiscal year. Anyone who needs to know specific dates for a particular chamber can refer to the chamber itself or to the Implementing Regulations.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 34 of the Saudi Chambers of Commerce Law
What is the fiscal year of a chamber of commerce?
The chamber's fiscal year is the state's fiscal year, as the article provides.
Does a chamber of commerce choose its own fiscal year?
No. The Law ties its fiscal year to the state's fiscal year.
More articles on Chamber of Commerce Finances
- Article 30
Article 30 refers to the Implementing Regulations for the categories of chamber subscribers and the fee for each, and provides that the fee falls due 3 years after registration in the commercial register.
تحدد اللائحة فئات المشتركين في الغرفة، والمقابل المالي لاشتراك كل فئة، ويبدأ استحقاق المقابل المالي للمشترك في الغرفة بعد مضي (ثلاث) سنوات من تاريخ قيده في السج
- Article 33
Article 33 lists the chamber's financial resources: subscriptions, fees for certificates and attestation, investment returns, accepted donations and gifts, and fees for publications, training, conciliation, arbitration and any other service.
تتكون موارد الغرفة المالية مما يأتي: 1- المقابل المالي للاشتراكات. 2- المقابل المالي لإصدار الشهادات والمحررات، والتصديق عليها. 3- عوائد استثمار الأصول التي تمل
- Article 35
When the estimated budget is delayed, the chamber works on the previous budget's estimates until the General Assembly approves the new one within 90 days with the Minister's approval; otherwise the Ministry may take whatever action it sees fit.
في حال تأخر إصدار الموازنة التقديرية للغرفة، يُعمل بتقديرات الميزانية السابقة إلى أن توافق الجمعية العمومية للغرفة على مشروع الموازنة التقديرية الجديدة خلال (تس
- Article 36
Article 36 bars spending without an approved allocation or beyond it, and transferring or misusing allocations, without the board's approval; violations are void and those responsible must repay the funds within 30 days.
1- لا يجوز صرف أي مبلغ ليس له اعتماد في ميزانية الغرفة أو يزيد على الاعتماد المخصص له. ولا يجوز كذلك نقل مبلغ من باب إلى آخر في الميزانية، ولا استخدام اعتماد ما
- Article 37
Article 37 requires the chamber to have a licensed auditor chosen each year by its General Assembly from at least three nominated by the board, for no more than four consecutive years, who submits an annual report with a copy to the Ministry.
يكون للغرفة مراجع حسابات (أو أكثر) من مراجعي الحسابات المرخص لهم بالعمل في المملكة، تختاره الجمعية العمومية للغرفة سنويًّا من بين ثلاثة على الأقل يرشحهم مجلس إد
- Article 38
Article 38 requires the chamber's budget, financial statements and final accounts to be published as the Implementing Regulations set out.
تُنشر ميزانية الغرفة والقوائم المالية وحسابها الختامي وفقًا لما تحدده اللائحة.
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.