Regulatory Alerts2023-12-17
Circular Re. Rules for Regulating Buy-Now-Pay-Later (BNPL) Companies
The Saudi Central Bank has issued a circular approving the regulatory rules for Buy-Now-Pay-Later (BNPL) companies under its Financing Companies Control System. The decision, based on Royal Decree No. 51/M, formally establishes the operational framework and exemption principles for BNPL providers exercising financing activities. It mandates compliance with the newly adopted guidelines to ensure standardized consumer financing practices across the sector.
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