Based on the powers granted to the Central Bank under the Mortgage Companies Control Law issued by Royal Decree No. (M/51) dated 1433/8/13 H, and according to Article Two of the Executive Regulation of the Mortgage Companies Control Law issued by the Governor’s Decision No. 2/M Sh T dated 1434/4/14 H, which states “The Central Bank shall regulate the financing sector and supervise the operations of financing companies according to the system and regulation, including 2-Taking necessary measures to maintain the safety and stability of the financing sector and fairness in transactions.3-Taking necessary measures to encourage fair and legitimate competition among financing companies.4-Issuing the necessary rules and instructions to regulate the financing sector.

The Central Bank has decided the following:

First: Compliance by financing companies with Articles (78, 79, 81, 82, 83, 84) of the Executive Regulation of the Mortgage Companies Control Law is optional when dealing with small, medium, and large enterprises.

Second: The terms small, medium, and large enterprises refer to the definitions provided in the Central Bank Circular No. 381000064902 dated 1438/6/16 H, which refers to the decision of the Board of Directors of the Small and Medium Enterprises General Authority No. (2-1-1438) dated 1438/3/14 H, regarding the approval of the definitions of small and medium enterprises operating in the Kingdom.