Regulatory Alerts2019-05-29
Allowing Banks to Continue Providing Finance Lease Activities
The Saudi Central Bank authorizes licensed banks to continue providing finance lease activities without requiring license renewal or a separate standalone license, provided they obtain no-objection letters for launching related financing products in compliance with existing systems and regulations. This directive supersedes prior circulars by clarifying that current authorization remains valid until specific future instructions are issued. Banks must ensure all launched financing products adhere to the Real Estate Financing and Finance Lease Systems, their executive regulations, and relevant operational guidelines.
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