Regulatory Alerts2021-01-25
Circular Regarding Enforcement Document Extracts for Registered Financial Lease Contracts
The Saudi Central Bank has issued new controls and procedures for requesting and issuing enforcement document extracts for registered financial lease contracts, effective from their issuance date. These regulations streamline the process for lessors to recover movable and immovable leased assets or claim financial compensation through licensed contract registration companies and specialized firms. Lessors and contract registration companies are required to strictly adhere to these new procedures, which also supersede previous controls for the recovery of movable assets.
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