Skip to main content

Article 1

Effective from 2019-12-10 - Dec 09 2019
To view other versions open the versions tab on the right

1.The following terms and phrases, wherever mentioned herein, shall have the same meanings stated in the Finance Companies Control Law.
 
2.For the purpose of applying the provisions of these Rules, the following terms and phrases, wherever mentioned herein, shall have the meanings assigned thereto, unless the context otherwise requires:
 
 Consumer Microfinance: extending consumer credit as per controls stated in Article (50) of these Rules.
 
 Consumer Microfinance Company: a joint stock company licensed by SAMA to practice consumer microfinance activity.