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  • Chapter Four: Activity Provisions

    • Article Thirteen

      Microfinance shall be limited to Financing the production activates of small business owners, crafts people and the like. A Microfinance Company shall not offer consumer finance or exercise finance activities other than Microfinance.

    • Article Fourteen

      The finance amount provided to each beneficiary of Microfinance shall not exceed one hundred thousand riyals (100,000), SAMA may raise the amount to two hundred thousand riyals (200,000), if it deems necessary.

    • Article fifteen

      Taking into account Article (61) of the implementing regulation, A Microfinance Company may grant financing without collateral; or with collateral, taking into account the type and nature of this finance, in accordance with the policies and procedures of risk management approved by the Board of Directors of the Microfinance Company.