In reference to the powers granted to the Central Bank under the Finance Companies Control System issued by Royal Decree No. (M/51) dated 1433/8/13H.

We inform you of the issuance of His Excellency the Governor's Decision No. 85/M SH T dated 1441/5/26H, amending certain articles of the Executive Regulations of the Finance Companies Control System as follows:

First: Amend Article Three of the Executive Regulations of the Finance Companies Control System to read: "1- The provisions of these regulations apply to any legal entity licensed to practice one or more of the financing activities specified in Article Ten of the System or any other financing activity approved by the Central Bank according to the same Article. 2- Notwithstanding the provisions of Paragraph (1) of this Article, micro-consumer finance companies shall be subject to the rules issued by the Central Bank in this regard."

Second: Amend Paragraph (1) of Article Nine of the Executive Regulations of the Finance Companies Control System to read: "Microfinance activity is limited to financing production activities for small business owners, craftsmen, and those in a similar position, provided that the amount of financing granted does not exceed the amount determined by the institution."

Third: Amend Article Ninety of the Executive Regulations of the Finance Companies Control System to read: "A finance company shall not contract or deal with anyone engaged in one or more of the auxiliary activities to the financing activity except after obtaining a letter from the Central Bank confirming its no objection to such activities."

For your information and compliance accordingly.