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Article 22: Credit Limits

Effective from Jan 30 2025 - Jan 16 2024
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  1. Without prejudice to the deductible ratios specified in the Responsible Lending Principles for Retail Consumers, the total outstanding financing for each consumer natural person must not exceed an amount of SAR 5,000 (five thousand Saudi riyals), subject to increase or decrease by SAMA as it deems appropriate.
  2. The number of installments granted to the consumer must not exceed a maximum of 12 installments.
  3. Collection methods must be applied through electronic channels. Cash request is prohibited.
  4. The total outstanding finance made through the company must not exceed 20 times the capital and reserves, except after obtaining a non-objection letter from SAMA. Additionally, SAMA may raise or lower the maximum limit of the total financing to the extent it deems appropriate.
  5. The company shall not obtain financial facilities from non-licensed financiers, except after obtaining a non-objection letter from SAMA.