Article 3: General Provisions
Art. 3Status unknownSaudi ArabiaRegulation
Issued by Saudi Central Bank (SAMA) Rulebook
1. The objective of these Rules is to standardize the Annual Percentage Rate (APR) calculation for different types of retail lending, ensuring transparency in the finance offers and comparability to enable retail consumers to make informed decisions. 2. The APR for financing transactions shall be determined in accordance with the instructions and APR Calculator implemented through these Rules for the following: a. Advertising and promotional materials. b. Finance offering stage. c. Financing contract. d. Periodic statements provided to customers. e. Any other disclosure of APR.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded