Article 22 of the Saudi Finance Companies Control Law

This article does not set detailed provisions itself but specifies the subjects that the Regulations organize. They are:

1. The maximum total finance a finance company may provide.
2. Prohibiting the company from certain credit dealings or restricting it in them.
3. The special conditions to be observed in certain credit business.
4. The minimum security ratios in certain contracts between the finance amounts and the assets provided as security for them.
5. The principles of disclosing the standards of the cost of finance and the method of calculating it, to enable consumers to compare prices.
6. The controls necessary to protect fairness of dealings and consumers' rights.
7. The principles for organizing a fair distribution of finance profit over the maturity period.
8. Safeguards protecting the payments beneficiaries make, and how companies deal with them.
9. Carrying on debt collection for a finance company, and the provisions on licensing.
10. Any other matters whose organization the Law assigns to the Regulations.

The importance of the article to the customer is that it shows subjects such as disclosing the cost, protecting advance payments and collecting debts are regulated by law, and that their details are in the Regulations, not in this article. So one should not infer figures or percentages from this article alone.

It is preceded by Article 21, which provides for SAMA's supervision of finance companies, and followed by Article 23, which binds the company to capital adequacy ratio rules under the Regulations.

To find out what the Regulations provide in your case, you can consult a lawyer who specializes in banking and finance.