Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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International Monetary Fund (IMF)
An international organization aimed at enhancing monetary cooperation, promoting trade expansion, and fostering sustainable economic growth among member countries.
Controls
Measures, policies, and procedures implemented by institutions to manage and mitigate risks, to ensure the integrity and reliability of financial information.
Return on Investment (ROI)
A financial metric that evaluates the profitability of an investment relative to its cost. It is widely used in business and finance to assess the success or effectiveness of an investment by comparing the gains or benefits to the initial investment.
Liquidity Premium
The additional return required by investors for holding less liquid assets, which are harder to buy or sell quickly.
Consolidated Financial Statements
The financial statements of an economic entity in which the assets, liabilities, net assets/equity, revenue, expenses and cash flows of the controlling entity and its controlled entities are presented as those of a single economic entity.
Investor
A person who is eligible by virtue of relevant laws and regulations to practice business and investment activities.
Growth Rate
The percentage increase in economic indicators like GDP or investments over a period.
Public Tender
Inviting all suppliers and contractors without specification to bid to fulfill the needs of the government entity.
Actual Revenue Ratio of Estimated
The total revenues expected to be collected during a given future period to come.
Public Expenditures
Accounts (items) that have an economic classification, but do not have a subaccount number.
Marginal Propensity to Consume (MPC)
The percentage of additional income that a household spends instead of saving.
Assets Ownership Transfer
A contractual arrangement related to Infrastructure or Public Services that results in transferring ownership of an asset from a government entity to a Private Party.
Digital Economy
An economy that relies on digital technology and the internet to conduct business and financial transactions. It includes activities such as e-commerce, digital payments, cloud services, and the use of data and artificial intelligence to improve processes, including e-commerce, online services, and fintech.
High Order
A document that is not bound by a specific format or structure, bearing the signature of the King in his capacity as Prime Minister, and which may also be issued by the First or Second Deputy Prime Minister when either of them presides over the council. Such royal orders typically relate to matters that serve the interests of citizens. Perhaps the closest example of this is the decision issued yesterday to allow women to drive.
Settlement
An accounting process that compares two sets of records to check that figures are correct and in agreement. It aims at correcting the sums that are wrongly spent on a budget item and to direct it to the correct account or settle the amounts of the custodies and advances when they are activated or replaced.
Value Added Tax (VAT)
An indirect tax imposed on all goods and services that are bought and sold on a regular and continuous basis by persons subject to tax, with some exceptions. The value-added tax is imposed at every stage of production, starting from distribution until the stage of sale to the consumer. VAT is obligatory to every individual or company that practices an economic activity if the value of his annual taxable revenues exceeds 375,000 SAR.
Initial Request of Government Bodies’ Budget
Initial government bodies budget that is received from the electronic budget system and that is prepared in accordance with government financial statistics including items, expenses, workers, compensation, operating disbursements and capital expenditures in accordance with the limit amount for each government body.
Life Insurance Contract
Any contract of conventional insurance or Takaful or another form of Islamic insurance provided by a regulated provider in the KSA which results in the payment of a sum contingent on death or another significant event of human life, or a similar contract provided by a non-resident supplier.
Capitalization of Expenses
Expenses that lead to increasing the value of capital assets and extending their useful life, if applicable.
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