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Article One: General Provisions

No: 99/5884 Date(g): 29/9/2019 | Date(h): 30/1/1441

Effective from 2019-09-29 - Sep 28 2019
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  1. Without prejudice to the provisions of Article Sixteen of the Executive Regulation of the Financial Leasing Law, the appointment of the Head and Clerks of the Contracts Registry shall be made after obtaining a letter of no objection from the Central Bank.
  2.  The Head and Clerks of the Registry are directly linked to the Chief Executive Officer of the Contracts Registration Company or their designee.
  3.  The Central Bank has the authority to remove the Head and Clerks of the Contracts Registry from their positions by a reasoned decision in the event of failure to fulfill their statutory or professional duties.
  4.  In the event of refusal to register the contract or verify it, the concerned party may appeal this decision before the Saudi Central Bank. If necessary, they may escalate the matter to the competent court.