Referring to the Central Bank Circular No. 41038534 dated 6/1/1441 H concerning the "Model Lease Agreement for Vehicle Financing 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 30/8/1441 H (23/4/2020), and not to enter into any contracts that deviate from or amend this model, and to the Central Bank's decision on April 13, 2020, 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 the Central Bank has directed all financial institutions to gradually resume normal operations in their general departments, following the royal approval dated 3/10/1441 H (26/5/2020) 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, 8/10/1441 H (31/5/2020), lessors are now required to comply with the model lease agreement for vehicle financing for individuals as per the Central Bank Circular No. 41038534 dated 6/1/1441 H and complete the necessary procedures according to their policies by the deadline of 30/11/1441 H (21/7/2020).