Section One Scope of Application
Application of the Regulations
Article 1
These Regulations will apply to both Credit and Charge Cards, unless a specific exclusion is noted in the relevant article and will apply to salaried and non-salaried applicants.
Article 2
These Regulations are the complete Regulations for the issuance and operation of Credit and Charge Cards in the Kingdom of Saudi Arabia. They will take precedence over any other regulations issued previously.
Article 3
These Regulations will cover Credit and Charge Cards issued by any regulated entity, licensed by Saudi Central Bank.
Article 4
Companies subject to the provisions of the Implementing Regulation of the Finance Companies Control Law may extend Credit Cards without collateral, based on their Risk assessment methods.
Article 5
Credit and Charge Cards issued by Finance Companies are not subject to the restrictions on fees and commissions stipulated in Article (83) of Implementing Regulation of the Finance Company Control Law as well as Article (9) in the updated Consumer Finance Regulations (July 2014).