Skip to main content

Allowing Banks to Continue Providing Finance Lease Activities

No: 589340000067 Date(g): 28/5/2019 | Date(h): 24/9/1440

Effective from 2019-05-28 - May 27 2019
To view other versions open the versions tab on the right

Referring to SAMA Circular No. 44480/67 dated 14/07/1440 H, which emphasizes the commitment of banks to the provisions of the Real Estate Finance Law and the Lease Financing Law, along with their implementing regulations and related instructions. Further to SAMA Circular No. 22129/67 dated 09/04/1440 H, which includes the continuation of banks and financial institutions to engage in lease financing activities until further instructions are issued by SAMA, provided that they obtain letters of non-objection from SAMA to offer related financing products in accordance with the provisions of the relevant laws, regulations, and instructions.

SAMA would like to inform you that licensed banks and financial institutions may continue to engage in lease financing activities without the need to renew the license granted for lease financing or to obtain a separate license for that purpose, provided that they obtain letters of non-objection from SAMA to offer related financing products in accordance with the provisions of the relevant laws, regulations, and instructions.