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  • Section Four Advertising

    • Article 17: Advertising Consumer Financing Products

      1. The Creditor must indicate in all product advertisements its name, logo, any identifying representation and contact details.
      2. The advertisement must disclose, in a manner that is clear to the Borrower, the name and Annual Percentage Rate of the advertised product and shall not include other rates such as the Term Cost.
      3. The Creditor may not do any of the following:
        (a)Provide an advertisement that includes a false offer or statement or claim expressed in terms that would directly or indirectly deceive or mislead the Borrower.
       
        (b)Provide an advertisement that includes the unlawful use of a logo, a distinctive mark, or a counterfeit mark.
       
      1. SAMA may require any Creditor who does not abide by the provisions of this Article to withdraw the advertisement within one Business Day of notice SAMA from to that effect.
      2. Furthermore, SAMA may take other punitive actions as required.