Saudi Central Bank | Finance Regulations

The Saudi Central Bank (SAMA) has declared the modification of certain articles of the Implementing Regulations of the Finance Law in Saudi Arabia.

SAMA has announced that the modifications covered the judgment of the Minister of Finance to revoke Article Four (4) of the Implementing Regulation of Real Estate Finance Law, allowing real estate finance companies to implement financing activities, and therefore removing the condition, previously implemented, which prevented merging real estate financing and any other form of financing activities.

According to the public consultation published on the public Consultation Platform, SAMA has accepted the modification of Article Sixteen (16) of the Implementing Regulation of Finance Companies Control Law. The amendment will now allow finance companies to perform financing activities with no restrictions as to merging financial activities. SAMA, however, retains the right to limit its licensing by certain requirements.

The newly introduced amendments to the law highlight SAMA’s ongoing efforts to re-examine Implementing Regulations to guarantee the effectiveness of the financial division sector to operate in a competitive environment. The updated editions are available at SAMA's website.

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