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Article 20

No: M/51 Date(g): 3/7/2012 | Date(h): 14/8/1433 Status: In-Force
This article has been amended in accordance with the Royal Decree No. (M/272) dated 04/12/1445H, corresponding to 10/06/2024G. Please refer to the Arabic version of this article to read the last updated version.
Upon concluding any finance contract falling within their powers, the chairman, board members and employees of the finance company shall disclose in writing the following: 
 
 1.Any relation with respect to the contract.
 
 2.Any relation to the contract of any relative up to the second degree.
 
 3.Any financial interest they have with any contract party.
 
In case of non-disclosure, an aggrieved party may file a lawsuit before the competent court to invalidate the contract.