Regulatory Alerts2019-06-27
Registration of Financial Leases Contracts
The Saudi Arabian Monetary Authority requires all licensed banks and financing companies in the Kingdom to register financial lease contracts and any amendments with the Saudi Company for the Registration of Financial Lease Contracts (SAJAL) within ten business days of execution. Issued under the Financial Leasing System and its Executive Regulations, this mandate ensures that all transactions affecting the contractual rights of lessors and lessees are formally recorded in the official register. Full compliance with this registration obligation takes effect on Monday, July 1, 2019.
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