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Financial and Economic Dictionary

A collaborative initiative uniting 11 partners from the government sector, this dictionary is built to serve as a unified reference and vital knowledge hub for specialists and enthusiasts alike. It aims to enhance financial literacy, support the Kingdom's development process in light of Saudi Vision 2030, at a time when terminology is no longer just a linguistic tool, but have become pillars of knowledge on which policies are built, legislation is formulated, and dialogue between specialists, decision-makers and relevant authorities in the financial sector is managed.

Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms

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Most searched terms

Branch

It is represented by three digits of the entity code, which identifies the branch (region) name of the entity.

Corruption

Dishonest or unethical behavior, such as bribery or fraud, often involving individuals or institutions in positions of authority, and can have financial and legal implications.

Separation of Duties

A control mechanism in which tasks or responsibilities are divided among multiple individuals or departments to prevent fraud and errors.

Economic Bubble

A situation where asset prices rise significantly above their intrinsic value due to speculation.

Permitted Business Profile

The permitted business profile of a Capital Market Institution.

Tariff Nomenclature

A classification and coding system introduced by national administrations or Customs or Economic Unions to designate commodities or groups of related commodities for Customs tariff purposes.

Predictable

Something that can be anticipated or expected with a reasonable degree of certainty based on past trends, data, or evidence.

Bankability

The ability of a project to raise the necessary funding through long-term loans.

Competitive Exporting Base

A country's ability to produce and export goods competitively in global markets.

GCC Tariff and Customs Law

A law that involves adopting a unified customs law aimed at standardizing customs procedures across all customs administrations of the Gulf Cooperation Council (GCC) countries and enhancing cooperation among member states in the customs field.

Ability to Pay

A taxation principle stating that individuals and businesses should be taxed according to their financial capacity.

Termination of Contract

To cancel the contract with the contractor and withdraw the project as it breaches the terms of the contract.

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