The following terms and phrases – wherever mentioned in this Law – shall have the meanings assigned thereto unless the context requires otherwise:

Law: Finance Companies Control Law.

Regulations: Implementing Regulations of this Law.

SAMA: Saudi Arabian Monetary Agency.

Governor: Governor of SAMA.

Finance company: A joint stock company licensed to engage in finance activities.

Borrower: A person receiving finance.

Consumer: A person to whom finance services are offered.

License: A license issued by SAMA to a company to engage in finance activities.

Finance: Extending credit under contract for activities stipulated in this Law.