Further to SAMA’s circular No. 41038534 dated 6/1/1441H concerning the "Model Contract of the Financial Lease of Vehicles for Individuals" and SAMA's decision on April 13, 2020G, which included postponing adherence to the standard lease agreement template for vehicle leasing to individuals until further notice in support of efforts to address the impacts of the COVID-19 pandemic. It also included notifying that lessors must adhere to this standard template and complete the necessary procedures according to their policies by the deadline of 30/11/1441H corresponding to 21/07/2020G.

As SAMA has received requests from some financing entities to postpone the adherence deadline due to its proximity to the Eid al-Adha holiday and the entities' desire to utilize the holiday period to ensure readiness for implementing this template, we inform you that SAMA has decided to extend the deadline for adherence to the Model Contract of the Financial Lease of Vehicles for Individuals until 15/12/1441H corresponding to 05/08/2020G.