{"id":109586,"date":"2026-06-04T00:00:00","date_gmt":"2026-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=109586"},"modified":"2026-06-04T03:07:55","modified_gmt":"2026-06-04T03:07:55","slug":"this-morning-sama-mandates-five-day-advance-notice-for-non-bank-investment-rounds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/06\/04\/this-morning-sama-mandates-five-day-advance-notice-for-non-bank-investment-rounds\/","title":{"rendered":"THIS MORNING: Sama mandates five-day advance notice for non-bank investment rounds"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>It\u2019s a day of staggering valuations and cautious economic calibrations, led by the impending SpaceX mega-listing and what it could mean for early Saudi backers. We\u2019re breaking down what this windfall means for market liquidity, arriving just as May\u2019s corporate data shows the non-oil private sector shaking off its recent post-war slump.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The IMF reins in its full-year GDP expectations for the Kingdom on lingering regional anxieties, South Korea\u2019s Kepco clinched a USD 560 mn cogeneration contract at Jafurah, and Retal takes the wheel on a SAR 1.9 bn mixed-use destination in Riyadh. Let\u2019s get to it.<\/p>\n<p class=\"tag-border-left\">Raising capital? Tell Sama first<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>The Saudi Central Bank (Sama) wants all non-bank <\/strong><strong>financial institutions to notify it at least five working days before conducting any investment rounds<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/274.pdf\" style=\"\">announcement (pdf)<\/a>. The requirement applies to financing companies, payment service providers, exchange houses, and financing support firms \u2014 in addition to standard no-objection approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does the central bank need to know?<\/strong> Companies must provide details on the investment round's timeline, purpose, value, target investors, and expected impact on their ownership structure and financial position. They must also disclose the type of instrument being used \u2014 whether equity, convertible securities, or debt \u2014 and submit supporting documents along with any additional information requested by Sama.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Sama is moving further upstream in the fundraising process. The pre-notification signals the regulator is prioritizing visibility and oversight ahead of transaction agility, making it far harder for unvetted capital to enter the fintech ecosystem. The move also limits the scope for undisclosed equity or debt arrangements to fly under the radar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Refinery closures start to bite<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Aramco points to the missing refining layer: <\/strong>Years of underinvestment in refining have left the market more vulnerable to today\u2019s oil shock, following the closure of roughly 3 mn bbl \/ d of global refining capacity between 2020 and 2023, Aramco\u2019s VP of market analysis and sustainability Musaab Al Mulla told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-refining-has-been-underinvested-saudi-aramco-says-2026-06-03\/\" style=\"\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refining capacity could have cushioned the blow:<\/strong> The company argues that those lost refining barrels would have helped absorb some of the impact of the current crisis. With attacks on energy infrastructure, Iran\u2019s closure of the Strait of Hormuz, and the US\u2019 naval blockade removing an estimated 14 mn bbl \/ d of Middle Eastern oil supply from the global market, refining constraints are becoming increasingly visible. Aramco has separately warned that a prolonged disruption could <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-market-will-lose-around-100-million-barrels-every-week-if-strait-hormuz-2026-05-11\/\" style=\"\">cost the market<\/a> as much as 100 mn barrels per week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Saudi-Russia ties in focus at SPIEF<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Saudi Ara<\/strong><strong>bia and Russia are using the 2026 St. Petersburg <\/strong><strong>International Economic Forum (SPIEF) to reinforce their economic and energy ties<\/strong>, with the Kingdom joining as the forum\u2019s guest of honor, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2026\/06\/03\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%8A%D8%B1%D8%A7%D8%B3-%D9%88%D9%81%D8%AF%D8%A7-%D8%B1%D9%81%D9%8A%D8%B9%D8%A7-%D8%A8%D9%85%D8%B4%D8%A7%D8%B1%D9%83%D8%A9-%D8%A7%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D9%81%D9%8A-%D9%85%D9%86%D8%AA%D8%AF%D9%89-%D8%B3%D8%A7%D9%86%D8%AA-%D8%A8%D8%B7%D8%B1%D8%B3%D8%A8%D8%B1%D8%BA-\" style=\"\">Al Arabiya<\/a> reports. Energy Minister Prince Abdulaziz bin Salman is set to meet Russian Deputy Prime Minister Alexander Novak to discuss cooperation and Opec+\u2019s stabilizing role in global oil markets post-UAE exit, while broader talks are expected to cover investment, tourism, industry, education, and culture. The event wraps on Saturday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efforts to grow closer were already underway. <\/strong>A Saudi-Russian mutual visa waiver entered into force <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/12\/this-morning-aramcos-infrastructure-investments-paid-off-in-crisis-time\/\" style=\"\">last month<\/a>, allowing citizens of both countries to stay for up to 90 days for business or tourism purposes, though it does not cover work, residency, or Hajj travel.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a slew of updates on the regional conflict. <\/strong>A Republican-controlled US House of Representatives has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6fbbc60c-155c-42a7-81b6-50e24e0bb706?syn-25a6b1a6=1\" style=\"\">voted to block<\/a> President Donald Trump from launching further strikes on Iran unless congressional approval is obtained. This is the House\u2019s fourth attempt to curb Trump\u2019s military actions and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cj6pldg39deo\" style=\"\">still requires<\/a> approval from the Senate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is headway being made?<\/strong> Trump <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/03\/trump-iran-war-nuclear-weapon.html\" style=\"\">has said<\/a> that Tehran has \u201calready agreed\u201d not to have nuclear weapons, adding that it can still change its mind. Iran\u2019s Foreign Ministry declined to weigh in while an unnamed government source said the president\u2019s comments were misleading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More strikes: <\/strong>Kuwait International Airport was <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hostilities-flare-iran-war-oil-jumps-with-talks-stalemate-2026-06-03\/\" style=\"\">targeted<\/a> yesterday in a strike that injured several people and forced flight cancellations. While regime-affiliated media reported that Iranian authorities have denied responsibility and blamed US interceptor rockets, the US military rejected those claims. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Lebanon and Israel have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.state.gov\/releases\/office-of-the-spokesperson\/2026\/06\/joint-statement-of-the-united-states-of-america-republic-of-lebanon-and-state-of-israel-on-the-latest-high-level-trilateral-meeting\/\" style=\"\">agreed to a ceasefire<\/a><\/strong><strong>. <\/strong>The truce \u2014 brokered by Washington \u2014 is contingent on a complete halt to Hezbollah fire and the total evacuation of its operatives from the South Litani Sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Uber is reportedly <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ubers-commitment-self-driving-startup-nuro-is-close-500-mln-sources-say-2026-06-03\/\" style=\"\">plugging some USD 500 mn<\/a><\/strong><strong> into Nuro, a self-driving <\/strong><strong>startup. <\/strong>The startup \u2014 backed by Nvidia and Soft Bank \u2014 aims to license its software to carmakers and is expected to launch later this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SpaceX\u2019s IPO isn\u2019t the only offering making headlines: <\/strong>Anthropic has <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/anthropic-said-to-pick-morgan-stanley-goldman-sachs-to-lead-ipo\" style=\"\">reportedly tapped<\/a> Morgan Stanley and Goldman Sachs to lead its highly-anticipated IPO this year, which could take place as early as October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Circle your calendar<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/effiesaudi.com\/\" style=\"\">Effie Awards Saudi Arabia<\/a><\/strong><strong> will <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/first-ever-effie-awards-saudi-arabia-comes-to-riyadh-this-june-g7txt6u1\" style=\"\">take place<\/a><\/strong><strong> in Riyadh on Thursday, <\/strong><strong>11 <\/strong><strong>June.<\/strong> The one-day event will bring together marketers and brands for panels and workshops focused on marketing effectiveness, consumer trends, and advertising, wrapping with an awards ceremony recognizing campaigns and organizations across the Kingdom. This is the first Saudi edition of the global program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Refinery closures exacerbate global oil crisis, Aramco Says<\/p>\n","protected":false},"author":1,"featured_media":109587,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[139,10,357,16,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-109586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aramco","tag-enterpriseam-ksa","tag-russia","tag-sama","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"c4acac60-97e9-4b83-bbbe-b352951f9a60","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/8\/18.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sama\u2019s five-day rule","related_issue":[109584],"teaser":"Refinery closures exacerbate global oil crisis, Aramco Says"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: Sama mandates five-day advance notice for non-bank investment rounds - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/06\/04\/this-morning-sama-mandates-five-day-advance-notice-for-non-bank-investment-rounds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Sama mandates five-day advance notice for non-bank investment rounds\" \/>\n<meta property=\"og:description\" content=\"Refinery closures exacerbate global oil crisis, 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