Rules of Issuance and Operation of Credit Cards

Instructions for Services Provided to Persons with Disabilities in Financial Institutions . In the event of a conflict between the provisions of these rules and the provisions of the rules issued by international payment companies, the provisions of these rules shall prevail. Article 50 These rules shall be implemented within (90) days from the date of their publication on SAMA's website , and shall replace the Regulations of Issuance and Operating Credit and Monthly Charge Cards, communicated by SAMA Circular No. (361000090389) dated 26/06/1436H . Appendix A: Credit Card Fees and Charges Disclosure Form M The name of the drawing The amount of the fee 1 Annual Percentage Rate (APR): The discount rate at which the present value of all installments and other payments due from the beneficiary—representing the total amount payable by the beneficiary—is equal to the present value of the financing amount disbursements available to the beneficiary, on the date the financing amount or the first disbursement thereof becomes available to the beneficiary, in accordance with the provisions of the Rules Governing Calculation of Annual Percentage Rate (APR) issued by SAMA. 2 Term cost: The value of the term on the outstanding amount due and unpaid during the grace period. 3 Annual Fee: An amount charged annually for the activation or use of the card. 4 Cash withdrawal fees (ATM cash withdrawal and transfer to the current account): An amount charged for a transfer from the available credit card balance to the customer's checking account. 5 Cash withdrawal fees (E-wallet recharge): An amount charged for recharging the customer's e-wallet from the available credit card balance. 6 Fees for wrong dispute on transactions and account statement: An amount charged when a dispute is filed regarding a transaction or the account statement that, after review and investigation, is found to be correct. 7 International Purchase Transaction Fee: An amount charged for using a credit card to purchase goods or services whose currency is different from the card's currency or outside Saudi Arabia. Illustrative example: Transaction amount Exchange rate Amount in rials International purchase transaction Fee Amount due 8 Late payment fees: An amount collected from the customer after the grace period has ended without payment of the amount due, in accordance with the agreed payment arrangements. *The card issuer must include any other fees and charges associated with the credit card, clearly defined in a manner that is easy for the customer to understand. *The card issuer must highlight the Annual Percentage Rate (APR) and the Term Cost using a different font and color from the rest of the information. Appendix B: Disclosure Form for Basic and Optional Benefits M Details 1 Features Based on Promotional Offers – if any: Details of any temporary or permanent promotional offer provided to the customer must be clearly disclosed, including the features, discounts, or waivers of specific fees, along with the duration of the offer and all applicable terms and conditions, in a clear manner that is easy for the customer to understand. Illustrative Example: Type of Promotional Offer Offer Details Target Segment Offer Eligibility Period and Conditions Example: Welcome Miles Example: Granting the customer 1,000,000 membership miles Example: New customers 100,000 miles upon card activation, or 50,000 miles upon activation and an additional 50,000 miles upon spending SAR 5,000 within 90 days of card activation. Example: Annual Fee Waiver Example: Waiving the annual fee for the first year Example: Customers under specific bundles/tier Example: Free if the card is used for purchases totaling SAR 5,000 within 90 days of activation. *The promotional offer is non-modifiable, and the customer shall be notified at least fourteen (14) days prior to its expiration. 2 Rewards Programs and Similar Offerings – if any: The program’s details must be clearly disclosed, including its mechanism,