Regulatory Alerts2019-01-03
Added · Updated
Marketing of Finance Products That Meet Real Individual Needs
The Saudi Central Bank issued this circular to address the overemphasis on marketing consumer-purpose finance products via SMS and other channels, which currently misaligns with Saudi Vision 2030 objectives. The directive requires all operating banks and financial institutions to adopt a balanced marketing approach across all channels, ensuring that promotional efforts prioritize products meeting individuals' actual needs rather than purely consumer-driven offerings. This shift aims to align financial product marketing with the Kingdom's broader economic goals and improve consumer welfare through more targeted financing solutions.
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