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11. Implementation

No: 42022533 Date(g): 23/11/2020 | Date(h): 8/4/1442

Effective from Jul 01 2021 - Jun 30 2021
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These Rules shall come into force with effect from 1 July 2021. On implementation of these Rules from the above effective date, the Provision Guidelines previously issued via Circular No. 381000046342 dated 27/04/1438H shall cease to apply. 
 
Finance companies must adjust internal credit risk classification, exposure loss provisioning, and regulatory reporting systems to satisfy the requirements specified in these Rules.