Saudi German Health Officials Fined for Accounting Violations

May 21, 2026

50 min

May 21, 2026 22:31

Saudi Arabia fines Saudi German Health officials over SR358 million accounting violations

## CMA Ruling on Saudi German Health

Saudi Arabia's Capital Market Authority (CMA) has imposed fines on 11 officials from Middle East Healthcare Company, the parent of Saudi German Health hospitals. The penalties, totaling approximately SR18 million, were issued due to accounting violations involving inflated revenues and misleading financial statements.

## Details of the Violations

The violations pertained to financial statements from December 31, 2018, to September 30, 2021. During this period, the company recognized revenues of SR358.04 million, despite knowing the low likelihood of collecting these dues. This led to an artificial inflation of the company's revenues and assets.

## Consequences and Further Actions

In addition to the fines, the convicted individuals face bans from working in CMA-supervised entities for six months to a year. The ruling was coordinated with relevant authorities and is linked to a public criminal case initiated by the Public Prosecution. Affected investors can seek compensation through the Committee for Resolution of Securities Disputes after filing complaints with the CMA.

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