Regulatory Alerts2023-03-06
Eid Al-Fitr and Eid Al-Adha Holidays for 1444H
The Saudi Central Bank issued a circular mandating specific holiday periods for financing companies operating in the Kingdom based on the Umm al-Qura calendar. The Eid Al-Fitr break runs from Monday, 17 April 2023 (26/09/1444H) through Tuesday, 25 April 2023 (05/10/1444H), while the Eid Al-Adha break extends from Thursday, 22 June 2023 (04/12/1444H) through Sunday, 2 July 2023 (14/12/1444H). These dates apply to all licensed financing companies, the Saudi Real Estate Refinancing Company, and authorized leasing contract registration entities.
Saudi Central Bank
Reference No.: 44064923 Date: 14/08/1444H Attachments: None
Circular
To the Respected, Peace be upon you, and God's mercy and blessings,
Subject: Holidays for the Blessed Eid Al-Fitr and Eid Al-Adha for 1444H.
Based on Article Twenty-One of the Financing Companies Supervision System and Article Two of its Executive Regulations, the Saudi Central Bank confirms compliance with the following:
First: The Eid Al-Fitr holiday begins at the end of business on Monday, 26/09/1444H (corresponding to 17/04/2023G), and companies resume operations on Tuesday, 05/10/1444H (corresponding to 25/04/2023G) (according to the Umm al-Qura calendar).
Second: The Eid Al-Adha holiday begins at the end of business on Thursday, 04/12/1444H (corresponding to 22/06/2023G), and companies resume operations on Sunday, 14/12/1444H (corresponding to 02/07/2023G) (according to the Umm al-Qura calendar).
May you be well every year,
Yazeed bin Ahmed Al-Sheikh Deputy Governor for Supervision
Distribution Scope:
- Financing companies operating in the Kingdom.
- Saudi Real Estate Refinancing Company (SRR).
- Financing-support companies licensed by the Saudi Central Bank.
- Leasing contract registration companies licensed by the Saudi Central Bank.