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Article 3: General Provisions

Effective from Jan 31 2025 - Oct 30 2023
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1.The objective of these Rules is to standardize the Annual Percentage Rate (APR) calculation for different types of retail lending, ensuring transparency in the finance offers and comparability to enable retail consumers to make informed decisions.
 
2.The APR for financing transactions shall be determined in accordance with the instructions and APR Calculator implemented through these Rules for the following:
 
 a. Advertising and promotional materials.
 
 b. Finance offering stage.
 
 c. Financing contract.
 
 d. Periodic statements provided to customers.
 
 e. Any other disclosure of APR.