Skip to main content

Article 70

No: MSHT/82 Date(g): 10/12/2019 | Date(h): 13/4/1441 Status: In-Force
1.The Consumer Microfinance Company shall indicate in all product advertisements: its name, logo, any identifying representation and contact details.
 
2.The advertisement shall disclose, in a manner that is clear to the consumer, the name and Annual Percentage Rate of the advertised product and shall not include other rates of the term cost.
 
3.A Consumer Microfinance Company is not allowed to publish an advertisement that includes a false offer, statement, or a claim expressed in terms that would directly or indirectly deceive or mislead a consumer.
 
4.SAMA may require any Consumer Microfinance Company that does not comply with the conditions of this Article to withdraw the advertisement within one business day of SAMA’s notice.