Article 27 of the Saudi Central Bank Law
المادة 27 من نظام البنك المركزي السعودي · الفصل السادس: أحكام ختامية
The article provides that the Saudi Central Bank Law takes effect 90 days after the date of its publication in the Official Gazette.
Official text (Arabic)
This article has not been amended since the law was issued.
يُعمل بالنظام بعد (تسعين) يوماً من تاريخ نشره في الجريدة الرسمية.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 27 explained in plain English
This is the effective date article of the Saudi Central Bank Law, and it sets when it begins to apply:
- Starting point: the date the Law is published in the Official Gazette.
- Period: 90 days from that date.
- Effect: once this period has passed, the Law takes effect.
The period between publication and the Law taking effect allows preparation for applying it. The article does not state the publication date itself, so the Official Gazette should be consulted to find the actual effective date.
The effective date is linked to Article 26, which provides that the Law replaces the Saudi Arabian Monetary Agency Law issued by Royal Decree No. 23 dated 23/5/1377 AH, and repeals any provisions that conflict with it. From the date the Law takes effect under this article, it becomes the reference in place of the previous law.
Anyone who needs to know which law governed a particular event should determine its date relative to the date the Law took effect, that is, 90 days after its publication. If the matter has an important legal effect, it is advisable to consult a lawyer who specializes in banking and finance.
Article 1 defines "the Law" as the Bank's law and "the Bank" as the Saudi Central Bank, so this is the Law meant by the effective date.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 27 of the Saudi Central Bank Law
When does the Saudi Central Bank Law take effect?
After 90 days from the date of its publication in the Official Gazette.
Does the Law take effect from the date it was issued?
No. The article provides that it takes effect 90 days after the date of its publication in the Official Gazette.
More articles on Central Bank Contracts and Procurement
- Article 22
The Central Bank may conclude contracts in Arabic or other languages, its procurement is outside the government tenders law and subject to Board regulations, and its contracts may exceptionally be subject to foreign law, courts or arbitration.
1- للبنك إبرام العقود والاتفاقيات باللغة العربية أو بغيرها من اللغات وفق ما تقتضيه حاجة العمل ومصلحة البنك. 2- لا يخضـع البنك في قيامـه بتنفيذ أعمالـه وتأمين مش
- Article 26
The Saudi Central Bank Law replaces the Saudi Arabian Monetary Agency Law issued by Royal Decree No. 23 dated 23/5/1377 AH and repeals any provisions that conflict with it.
يحل النظام محل نظام مؤسسة النقد العربي السعودي الصادر بالمرسوم الملكي رقم (23) وتاريخ 23-5-1377هـ، ويلغي كل ما يتعارض معه من أحكام.
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.