Holidays of Finance Companies

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In the name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority
Headquarters

General Directorate for the Supervision of Finance Companies

Ref: 361000107380
Date: 1436/08/07
Attachments:

Circular

Subject: Determination of Holidays for Finance Companies.

Dear Sir,

Greetings,

Pursuant to Article 21 of the Finance Companies Supervision System and Article 2 of the Executive Regulations of the Finance Companies Supervision System, the Authority wishes to stipulate the following regarding the holidays for the Eids and the National Day of the Kingdom:

First: Eid al-Fitr Holiday
The Eid al-Fitr holiday for finance companies operating in the Kingdom and their branches is set annually for four days, commencing on the day following the 29th of Ramadan (according to the Umm al-Qura calendar).

Second: Eid al-Adha Holiday
The Eid al-Adha holiday for finance companies operating in the Kingdom and their branches is set annually for four days, commencing on the day of Arafat.

Third: National Day of the Kingdom Holiday The first day of Meezan (the beginning of the solar Hijri year), corresponding to September 23 of the Gregorian year, shall be an official holiday for all finance companies operating in the Kingdom and their branches. If this day falls on a Saturday, it shall be compensated with the following Sunday; if it falls on a Friday, it shall be compensated with the preceding Thursday. Otherwise, the National Day shall not be compensated if it falls on another official holiday.

Fourth: In the event of any amendments to the dates of the Eid holidays (Sections: First and Second), the Authority will issue a circular accordingly at the appropriate time.

Yours sincerely,

(Signature)
Fahd bin Abdullah Al-Mubarak
Governor

Distribution Scope:

• One copy to our office.
• One copy to all departments of the Headquarters and the Authority's branches.
• One copy to all finance companies operating in the Kingdom.

P.O. Box: 2992, Riyadh: 11169, Phone: +966 9662020 4662, Fax: +966 9662488 4662 ---