Article 14 of the Saudi Credit Information Law

This article creates the body competent to apply the Law to violators and to resolve disputes: one or more committees formed by decision of the Minister of Finance.

The committee's powers:

• Considering violations of the provisions of the Law.
• Imposing penalties.
• Settling disputes and disagreements that arise between the consumer and the members and companies.

Its formation and work:

• It has no fewer than 3 members with experience in this field, including at least one legal adviser.
• It issues its decisions by majority.
• The Implementing Regulations set how the committee works and the remuneration of its members.

Appeal: the committee's decisions may be appealed before the Board of Grievances within 60 days of being notified of them. The period runs from notification of the decision, not from the date it was issued.

The penalties the committee imposes are those set out in Article 13: a fine of up to SAR 1,000,000 with the maximum doubled for a repeat offense, temporary suspension of the license, and its cancellation. Article 15 provides that a person harmed by the violations may, after the committee has issued a decision, turn to the competent judicial body to claim compensation.

Because the appeal period is short, a person against whom the committee has issued a decision would do well to consult a lawyer specializing in banking and finance, or in administrative cases, without delay.