In brief
Governs licensing, activities and central-bank oversight of finance companies: real estate finance, finance leasing, business and consumer finance, beneficiaries' rights and penalties.
Summary of the law
Key points
- Anyone concerned may challenge central bank decisions before the competent court within 60 days of notice (Article 30).
- A debtor proven to delay payment to a finance company may be fined under Article 35, and, after Article 35 was amended by Royal Decree M/24 of 1443H, breaches are punished according to seriousness by up to SAR 2 million or 10% of the financing, whichever is higher, and up to two years' imprisonment, or either.
A plain-language summary prepared by Al-Bayan Al-Wadih Law Firm, focused on the violations and problems that come up most in daily life. It is not a substitute for the official text or for legal advice.
What it covers
- Licensing
- Finance activities
- Grievances
- Penalties
Timeline
- Issued: Royal Decree M/51 · 13/8/1433H
Full record of amendments and regulations at the official source
Official text at the Bureau of Experts
The authoritative text is in Arabic; the Bureau of Experts publishes English translations for some laws.
Full official text
The full official text is in Arabic and is reproduced on the Arabic version of this page, as published by the Bureau of Experts at the Council of Ministers. Read the full Arabic text
Library content is simplified general information for awareness only. It is not legal advice and does not replace the official text. Laws change: always check the official source and consult a lawyer before acting. Library data last reviewed: .