Executive Regulations
For social finance

Articles of the Regulations

Chapter One: Definitions

Article One

The following names shall have the definitions given next to each of them Unless the text requires otherwise:

- Noting that the last installment of the loan value (100,000) will be (2,052) riyals.

Chapter Two: The scope of the regulation and the amount of the loan.

Article Two

The maximum acceptable monthly income in these regulations is (14,500) fourteen One thousand five hundred riyals.

 Article Three

The maximum financing value is (100,000) one hundred thousand riyals, provided that the value is determined in light of the financing applicant’s need and ability to repay. The slides are distributed according to the following table:

Chapter Three: General Conditions for Obtaining Financing

Article Four

The applicant for financing is required to do the following: 

1- He must be of Saudi nationality.

2- Provide special conditions for the required financing.

3- Submit the required documents and documents.

4- Provide the required guarantees that you specify. Regulations.

Chapter Four: Marriage Loans

Article Five

It is a loan designated to help alleviate the burdens of marriage, with Taking into account the provisions stipulated in the regulations,

The marriage loan is granted according to the following conditions:

1- The marriage must be for the first time, with the exception of those whose only wife has died.

2- Submitting an official marriage contract certified by the competent court, provided that it has not been issued for more than two years.

Chapter Five: Family Finance

Article Six

Chapter Five: Family Financing

Article Six

Taking into account the provisions stipulated in these regulations, the head of the family has the right to obtain a family loan according to the following conditions:

1- The individual’s share of the family income does not exceed the amount of (3000) Riyals.

2- The son is counted among the family members if he does not exceed twenty-four years of age unless he is an employee or married, and the daughter is counted unless he is an employee or married.

Chapter Six Restoration Loan

Article Seven

It is the loan designated for residential units and includes renovation, additions, and repair, and it is required that the loan be allocated to a private house owned by the applicant

Or he is a partner in its ownership under a legal instrument or under an ownership contract from the Ministry of Housing, the Real Estate Development Fund, or from a commercial bank.

It is also permissible to disburse the loan for the restoration of endowed homes or those built on consecrated lands if they are available. Other lending conditions.

Chapter Seven: Guarantees against the Loan

Article Eight

No loan shall be disbursed in accordance with these terms. The regulations are subject to sufficient guarantees to repay the loan, and such guarantees include, for example:

1- A guarantee issued by the applicant’s employer in accordance with the controls approved by the bank.

1- A personal guarantee from an employee. A government employee whose salary covers a third of the value of the monthly loan installment, or an employee in a company in which the state contributes more than 50% of the capital. Taking into account the commitment rates approved by the bank.

Chapter Eight: Repayment of Financing

Article Nine

1- The value of the installment is determined according to the client’s ability. Finance, provided that the repayment period does not exceed 60 months.

2- The borrower must repay the loan provided to him according to the approved monthly installments.

3- Payment of the first installment begins after thirty days from Date of disbursement of the loan.

4- In the event that the borrower does not commit to paying for two successive installments, a deduction will be made to the guarantor, if any. If there is no other way to obtain the value of the loan, a notice will be given of the obligation to pay the amounts due from him within thirty days. If not He responds. A final warning is given for a period of fifteen days that the loan must be repaid in full. When that period expires without the debt being paid, the procedures stipulated in the state revenue system are applied unless there is a legitimate excuse accepted by the bank.

5-  The loan shall be repaid through the means determined by the bank.

6- Taking into account the provisions of Paragraph Four of Article Nine of these regulations, the bank may demand that the loan be repaid immediately and in one payment. The deadlines for all installments shall be waived, and the borrower shall be prohibited from applying for another loan. For a period of five years from the date of full repayment of the debt, with legal measures being taken against the borrower if it is proven to the bank that the documents or information provided by the loan applicant and according to which the loan was disbursed are forged or incorrect, or the loan was disbursed due to concealment of information whose disclosure would lead to rejection of the application.

Article Ten

1- The Board of Directors may grant loans for other cases if it is convinced of the validity of the justifications provided by the loan applicant

2- The CEO of the bank may add new products targeting new segments or special groups directly or through accredited charitable associations and institutions with acceptable controls and guarantees and not exceeding the lending ceiling and the maximum income limits specified by the Social Loan Regulations.

3- The CEO of the bank may link the approval of granting loans to the borrower’s obtaining rehabilitation courses or participating in savings programs and setting controls to motivate participants in them.

4- The status of widows and divorcees must be proven by a legal instrument or the civil registry. Or according to a document approved by the Civil Status Department stating the applicant’s status.

5- Priority is given to marriage loans and to those applying for a loan for the first time, and all of them to the person with the lowest income, based on the individual’s share of income.

6- In all cases, bank employees are prohibited from submitting any application on behalf of others, guaranteeing any of the borrowers, or signing any of the bank’s documents in their capacity as informants or witnesses.

7- Minor orphans may be granted a family or renovation loan through a guardian. The legitimate wife, as well as the abandoned wife, according to the terms of these regulations and the controls set by the bank’s management.

8- It is permissible to grant a loan for another time in accordance with the controls set by the bank’s management.

9- Every legal relationship established in accordance with these The regulations are subject to its provisions, the provisions of the bank system, the state revenue system, and applicable regulations.

10- The Board of Directors shall interpret the texts of these regulations.

The forms and applications for loans are prepared by the bank’s management in accordance with the provisions of the bank system. These regulations and the state revenue system.

These regulations are approved by a decision of the Board of Directors.

This regulation is subject to periodic review by the Council.