Based on Article 21 of the Finance Companies Control Law and Article 2 of the Executive Regulation of the Finance Companies Control Law, SAMA would like to clarify the following regarding holidays for religious festivals and the National Day of the Kingdom:

First: Eid al-Fitr Holiday

The Eid al-Fitr holiday for financing companies operating in the Kingdom and their branches is set to four days each year, starting from the day following the 29th of Ramadan (according to the Umm al-Qura calendar).

Second: Eid al-Adha Holiday

The Eid al-Adha holiday for financing companies in the Kingdom and their branches is set to four days each year, starting from the Day of Arafat.

Third: National Day Holiday in the Kingdom

The first day of the Libra (beginning of the solar Hijri year), which corresponds to September 23 of the Gregorian year, is a public holiday for all financing companies operating in the Kingdom and their branches. If this day falls on a Saturday, it is compensated by the following Sunday; if it falls on a Friday, it is compensated by the preceding Thursday. In other cases, the National Day is not compensated if it coincides with another official holiday.

Fourth: In the event of any amendments to the holiday dates (sections: First and Second), SAMA will issue a circular accordingly.