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

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

First: Amend Article Three of the Implementing Regulation of the Finance Companies Control Law to be in the text: "1- Any legal person engaging in one or more of the Finance Activities specified in Article 10 of the Law, or any other Finance Activity approved by SAMA in accordance with Article 10 of the Law, shall be subject to the provisions of this Regulation. 2- Notwithstanding the provision of paragraph 1 of this Article, consumer microfinance companies are subject to the rules issued by SAMA in this regard."

Second: Amend Paragraph (1) of Article Nine of the Implementing Regulation of the Finance Companies Control Law to be in the text: "Microfinance activity is limited to Financing the production activates of small business owners, crafts people and the like, provided that the finance amount shall not exceed the limit set by SAMA."

Third: Amend Article Ninety of the Implementing Regulation of the Finance Companies Control Law to be in the text: "A finance company shall not contract or deal with anyone engaged in one or more of the Finance support activities without receiving SAMA’s non-objection letter."