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Chapter Two General Provisions

No: 60558/99 Date(g): 12/6/2019 | Date(h): 9/10/1440 Status: In-Force

Effective from 2019-06-12 - Jun 11 2019
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  1. These Rules shall apply to all finance entities.
  2. These Rules govern the disposal of finance assets or their contractual rights, whether the disposal takes the form of sale of asset or factoring.
  3. Saudi Central Bank may decline or restrict transactions of disposal of finance assets or their contractual rights based on reasons deemed relevant by Saudi Central Bank, such as experience, technical capabilities, or risk level.
  4. Saudi Central Bank may exempt certain transactions of disposal of finance assets or their contractual rights from certain provisions of these rules when it deems that their nature or volume warrant such exemption.