Implementing Regulation on Social Finance

Articles of the Rules

Chapter I: Definitions

Article I

The following designations shall have the definitions received in their respective centuries unless otherwise required by the text:

- With the observation that the last instalment of loan value (100,000) will be Ryal.

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

Article II

The maximum monthly income approved in this regulation (14,500) is 14,000 and 500 rials.

Article III

The maximum value of funding is R$100,000, with the value determined in the light of the need and ability of the funding applicant to pay, and the following table is broken down:

Chapter III: General conditions for access to funding

Article IV

The applicant for funding requires that:

1. To be Saudi nationals.

2. Provide special funding requirements.

3. Submission of required documents and documents.

4. Provide the required guarantees as defined by the Regulation.

Chapter IV: Marriage loans

Article V

Is the loan intended to help alleviate the burden of marriage, taking into account the provisions of the regulation,

The marriage loan shall be granted under the following conditions:

1. Marriage shall be for the first time, except for those whose only wife has died.

2. A formal contract certified by the competent court shall not be more than two years after its issuance.

Chapter V: Family financing

Article VI

Subject to the provisions of these Regulations, the head of the family shall be entitled to a family loan under the following conditions:

1. Family income per capita shall not exceed R$ 3000.

2. A child shall be considered as family members if he or she is not above the age of 24 unless he or she is employed or married and a girl unless she is employed or married.

Chapter VI: Renovation loan

Article VII

The loan for housing units includes refurbishment, additions, reform and requires that the loan be allocated to a private home owned by the applicant

or is a property partner under a legal instrument or under a contract owned by the Ministry of Housing, the Land Development Fund or a commercial bank,

The loan may also be disbursed for the repair of houses arrested or placed on land in need of other lending requirements.

Chapter VII: Guarantees against loan

Article VIII

No loan shall be disbursed in accordance with these Regulations except under sufficient guarantees of payment of the loan, such as:

1. Guarantee issued by the applicant ' s employer in accordance with the Bank ' s regulations.

1. Securing a person from a government official whose salary covers one third of the monthly premium of the loan or from an employee of a company to which the State contributes more than 50% of the capital, taking into account the Bank ' s approved commitment ratios.

Chapter VIII: Reimbursement of funding

Article IX

1. The value of the premium shall be determined according to the financial agent ' s ability, with a payment not exceeding 60 months.

2. The borrower shall pay the loan to it in accordance with the approved monthly instalments.

3. The payment of the first instalment shall commence 30 days after the date of disbursement of the loan.

4. If the borrower is not obligated to pay two consecutive instalments, the guarantor shall be determined if he or she finds no other means of obtaining the value of the loan, the notice shall be given that the amounts owed must be paid within 30 days, and if a final warning for 15 days that the full loan must be paid and upon the expiration of that period without the debt, the procedures provided for in the State revenue system shall be applied unless there is an excuse for a project to be accepted by the bank.

5. The loan shall be paid by means specified by the Bank.

6. Bearing in mind the provisions of article IX, paragraph 4, of the present regulation, the Bank may demand that the loan be paid promptly and in one instalment, the time limits of all instalments shall be waived, and the borrower shall be deprived of another loan for a period of five years from the date of the full payment of the debt, taking legal action against the borrower if the bank proves that the documents or information provided by the loan applicant is false or incorrect or the loan has been disbursted on account of the request.

Chapter IX: General provisions

Article X

The Governing Council may grant loans to other cases if the justifications provided by the loan applicant are satisfied.

2. The Executive Chairman of the Bank may add new products targeting new segments or special groups directly or through charitable associations and foundations with acceptable controls and guarantees and not exceeding the lending ceiling and income ceilings established by the Social Loans Regulation.

3. The Executive Chairman of the Bank may link the approval of the loan grant to the borrower ' s access to rehabilitative courses or to participate in savings programmes and establish controls to motivate participants.

4. Proving the status of the widow and divorced under a legal instrument, civil registry or a civil status document explains the situation of the applicant.

5. Priority is given to marriage loans and to those who come to borrow for the first time and all to the lowest income earner based on per capita income.

6. In any event, employees of the Bank are prohibited from making any request on behalf of others, ensuring any borrowers or signing any bank document as knowledge or witnesses.

7. Minor orphans may be granted a family loan or renovated by the legal guardian as well as the abandoned wife, in accordance with the terms of these Regulations and the controls established by the Bank Administration.

8. A loan may be granted again in accordance with controls established by the Bank ' s Administration.

9. Any legal relationship established under these Regulations shall be governed by the provisions of the Bank Regulations, the State revenue system and the applicable regulations.

The Governing Council shall interpret the texts of these rules.

Models and forms for loans are prepared by the Bank Administration in accordance with the provisions of the Bank Regulations, the Regulations and the State Income System.

This regulation shall be adopted by decision of the Governing Council.

This regulation is subject to periodic review by the Council.