Requirement for customer (natural person) signatures on all pages of contracts and agreements

In the name of Allah, the Most Gracious, the Most Merciful Saudi Central Bank Headquarters

General Directorate of Supervision of Financing Companies Ref. No.: ........................................................ Date: 1439/08/01 Attachments: ....................................................

Ref. No.: 391000084474 Date: 1439/08/01 Attachments:

Circular

To: Respected Sirs, Peace, mercy, and blessings of God be upon you, Subject: Customer (Natural Person) Signature on All Pages of Contracts and Agreements.

Based on the powers granted to the Bank under the Financing Companies Control System issued by Royal Decree No. (M/51) dated 13/8/1433H, and in alignment with the principles of protecting financing company customers that advocate disclosure, transparency, customer education, and awareness, including verifying that the customer reads all terms and conditions before committing to the products offered by the financing company.

With the Bank's commitment to ensuring that customers (natural persons) dealing with financing companies receive fair, transparent, honest, and trustworthy treatment, financing companies are required to obtain the signature of the customer (natural person) on all pages of the contracts and agreements in which they are a party. Financing companies may optionally apply this requirement to legal entities, while emphasizing the responsibility of financing companies for risks related to the failure of legal entity customers to sign all pages of contracts and agreements.

For your information and action effective from the date hereof. Yours sincerely,

Ahmed bin Abdullah Al Sheikh Deputy Governor for Supervision

Distribution Scope:

• Financing companies operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Phone: +966 11 4662020, Fax: +966 11 4662488