Following the Central Bank’s circular No. 41038534 dated 6/1/1441 H concerning the "Standard Lease Agreement Template for Vehicle Leasing to Individuals," and the Central Bank's decision on April 13, 2020, 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 30/11/1441 H (21/07/2020).

As the Central Bank 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 the Central Bank has decided to extend the deadline for adherence to the standard lease agreement template for vehicle leasing to individuals until 15/12/1441 H (05/08/2020).