In reference to SAMA Circular No. 41038534 dated 06/01/1441H concerning the "Model Contract of the Financial Lease of Vehicles for Individuals" which states that lessors must adhere to this model agreement and complete the necessary procedures according to their policies by the deadline of 30/08/1441H, corresponding to 23/04/2020 G, and not to enter into any contracts that deviate from or amend this model, and to SAMA's decision on April 13, 2020 G, to postpone compliance with the model lease agreement until further notice in support of efforts to address the impacts of the COVID-19 pandemic.

As SAMA has directed all financial institutions to gradually resume normal operations in their general departments, following the royal approval dated 03/10/1441 AH corresponding to 26/05/2020 G which included several decisions, including lifting the suspension of attendance for ministries, government agencies, and the private sector, and resuming office activities according to the guidelines set by the Ministry of Human Resources and Social Development in coordination with the Ministry of Health and relevant authorities starting from Sunday, 08/10/1441H corresponding to 31/5/2020 G. lessors are now required to comply with the Model Contract of the Financial Lease of Vehicles for Individuals as per SAMA Circular No. 41038534 dated 06/01/1441H and complete the necessary procedures according to their policies by the deadline of 30/11/1441H corresponding to 21/7/2020 G*.

*The deadline for compliance with the Model Contract for Vehicle Financial Leasing for Individuals has been extended pursuant to Circular No. (42011683) to no later than 15/12/1441H, corresponding to 5/8/2020G.