Article 28 of the Saudi Finance Lease Law

This article sets the date the Law takes effect, that is, the day its provisions begin to apply: after 90 days have passed from the date of its publication in the Official Gazette.

This period between publication and effect gives those concerned a chance to prepare before the provisions become binding, including:

• Companies that engage in finance leasing, to adapt their contracts and procedures to the Law.
• Lessees, to know their new rights and obligations.
• The bodies concerned with applying the Law.

Note that the start of the period is the date of publication in the Official Gazette, not the date the Law was issued. This differs from Article 27, which counts the period for issuing the Implementing Regulations, also 90 days, from the date the Law is issued. The two dates may differ, so it is better not to confuse them.

The article itself does not state the date of publication or of effect in days, so these are found by referring to the issue of the Official Gazette in which the Law was published.

To know whether the Law's provisions apply to a particular contract according to the date it was concluded, you can consult a lawyer specializing in banking, finance and finance lease cases.