The following words and phrases, wherever mentioned in this Law, shall have the meanings assigned to them, unless the context requires otherwise:
|
| SAMA: | Saudi Central Bank*.
|
| Credit Information: | Information and data on consumers with respect to credit transactions, such as: loans, installment purchase, lease, credit sale and credit cards and their commitment to payment.
|
| Member: | Any government or private entity which is party to a credit information exchange contract with at least one credit information company.
|
| Consumer: | Any natural or corporate person engaging in credit transactions.
|
| Companies: | Credit information companies licensed to collect and maintain credit information on consumers and provide the same to members upon request.
|
| Credit Record: | A report issued by companies containing consumer credit information.
|
| Public Records: | Credit information records maintained by government entities, such as records of funds and banks offering government loans, judicial authorities, government committees, bankruptcy and insolvency records and the like.
|
* The "Saudi Arabian Monetary Agency" was replaced By the "Saudi Central Bank" in accordance with The Saudi Central Bank Law No. (M/36), dated 11/04/1442H, corresponding to 26/11/2020G.
