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SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
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Effective from Jan 31 2025 - Apr 14 2015
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When assessing applications, Card Issuers must perform the following:
| a. | Verify that the financial information and applicant personal details supplied on the application form are correct. |
| b. | Calculate the probability of the applicant’s ability to repay any indebtedness. |
| c. | Determine the amount that the applicant can repay. |
